“Australia will need more than 9 million new homes to meet the needs of the population projected in the Intergenerational report released today,” Wilhelm Harnisch CEO of Master Builders Australia said.
“The nation will need to more than double its current housing stock over the next 40 years to accommodate the expected 1.3 per cent in annual population growth,” he said.
“The key challenge will be to tackle intergenerational housing affordability in order to preserve home ownership as a fundamental pillar of Australian economic and family life over the next 40 years,” Wilhelm Harnisch said.
“The Report also highlights that more brownfield sites will be essential to meet increased demand for multi-density housing, particularly as baby-boomers seek to increasingly ‘right size’ in response to their changing lifestyles,” he said.
“This will demand a serious commitment to reforms to counter supply side impediments that drive up house prices. Master Builders supports the importance the intergenerational Report gives to reducing red and green tape and regulatory duplication at state and local government,” Wilhelm Harnisch said.
“State and, particularly local government, will play a crucial role. Master Builders backs the view of the Intergenerational Report that more accountability and less waste and duplication must be required from these levels of government,” he said.
“Our submissions to the White Paper on Reform of Federation and the Harper Review of Competition Policy have called for reforms that will reward local councils for efficiently releasing more brownfield and greenfield land for housing development, including through national competition style payments from the Federal Government,” Wilhelm Harnisch said.