Property Council lauds combined effort to tackle housing crisis

The meeting was called as part of the government’s effort to develop an all-encompassing national housing and homelessness plan. 

Ahead of the meeting, the Property Council of Australia, a national lobby group representing property developers and property owners, welcomed the news of the convention. 

The group emphasised that “integrated solutions” are needed to address Australia’s housing challenges.

Property Council of Australia chief executive Ken Morrison noted that with the Labor party making housing a centre-stage agenda during the election, it is vital for the government to work closely with industry stakeholders to help deliver them.

The Albanese government’s housing reform agenda includes a $10 billion Housing Australia Future Fund that aims to build 30,000 new social and affordable housing properties in its first five years, as well as a regional “First Home Buyer” support scheme. 

“The federal government was elected with a broad housing plan, which included measures targeting housing supply, assistance to aspiring homeowners, downsizers and new affordable and social housing, and we fully support these priorities,” Mr Morrison said.

Mr Morrison added that while rising rates have chipped away at property prices in the last few months, the challenge of housing affordability continues to persist for home buyers. 

“This needs to remain a critical area of policy focus so it is good to see minister Collins leading this conversation so quickly,” Mr Morrison commented. 

He said that with official data indicating that a housing supply crunch is still looming and rental markets continue to tighten, the government would need to have decisive housing strategies in place. 

Mr Morrison cited housing supply forecasts, which showed housing supply is set to drop by around one-third over the next four years, creating a 163,400 dwelling deficit nationally by 2032.

“We are on the verge of a severe supply shortage just as migration will grow to pre-pandemic levels,” he commented. 

“This lack of supply is also evident in the rental market where a shortage of properties is already pushing rents up. We need creative approaches, such as enabling build-to-rent housing, to ease supply constraints,” Mr Morrison added. 

During the election, the Albanese party also laid out its plans for the creation of a national housing supply and affordability council, and the rollout of a new national housing and homelessness plan.

“The establishment of Housing Australia and a National Housing Affordability and Supply Council are further crucial steps to ensure governments, industry and community and social housing providers are working together to address this challenge collaboratively,” Mr Morrison stated. 

He also noted that the new National Housing and Homelessness Plan would play an important role in delivering solutions for housing supply, encouraging more rental housing and incentivising the creation of affordable and social housing.  

“As one of the peak bodies in the National Affordable Housing Alliance, the Property Council has called for the creation of innovative funding solutions to tackle Australia’s housing supply and affordability crisis.

“We look forward to continue working with minister Collins and the housing ministers across the country to address the critical issue of housing affordability and supply,” Morrison concluded. 

MP meeting ‘first step’ to delivering government’s housing reform agenda

In a press release published after the meeting,  Ms Collins described the convention of the highest housing officials across the country as the  “first step” to designing and delivering the government’s housing reform agenda.

She emphasised the government’s housing reform agenda will address significant challenges across the housing spectrum ranging from homelessness to housing affordability.  

Ms Collins also stated that ministers had pledged their commitment to working collaboratively across all levels of government to make it easier for Australians to access safe and secure housing. 

“Housing is central to the wellbeing of all Australians, and all levels of government are committed to ensuring everyone can more easily access safe affordable housing. All states and territories have agreed to work together on these reforms,” she stated. 

During the meeting, Ms Collins said that the ministers discussed their respective priorities, challenges, and housing strategies and provided counsel on how federal policy could “leverage their recent investments” in social and affordable housing.

“I also reaffirmed our commitment to engage with states and territories, local government as well as key stakeholders, to help further design and implement our housing agenda. Through national leadership, our government will maintain its strong focus on stable and affordable housing for all,” Ms Collins stated.