Master Builders backs RBA Governor’s housing affordability call

Master Builders Australia backs yesterday’s call by Reserve Bank Governor Glenn Stevens for measure to ensure that first home buyers are not locked out of the housing market.

“The nation has an obligation to ensure that home ownership remains an achievable aspiration for first home buyers,” Wilhelm Harnisch CEO of Master Builders Australia said.

“To meet this responsibility we must build an adequate supply of new housing to exert downward pressure on house prices and to ensure that the intergenerational home ownership gap does not widen for first home buyers,” he said.

“Master Builders Pre-Budget Submission calls for reforms to increase the housing supply and improve affordability without negatively impacting the Budget, such as providing competition payments to state and local governments to undertake genuine structural reforms that result in more efficient building approvals and land release processes,” Wilhelm Harnisch said.

“Reducing charges imposed on ‘brownfield’ developments will encourage more medium and high density housing close to existing transport and other community infrastructure,” he said.

“Master Builders Pre-Budget also calls for the adoption of an Eight Point Affordability Plan to tackle other supply side constraints that unnecessarily holds up the release of more land for greenfield housing developments,” Wilhelm Harnisch said.