The supply of new homes will crash to the lowest level in over a decade by 2026, worsening housing and rental affordability, and leaving the federal government far short of its goal to build 1.2 million homes by mid-2029.
“There are a range of issues in the production and cost of production of housing at the moment, including the from other parts of the construction sector,” Dr Ellis said. She cited a $3 billion new homes bonus, $500 million housing support program, $10 billion Housing Australia Future Fund, and new incentives to boost the supply of rental housing.
In NSW, the state government plans to increase density and height limits by up to 30 per cent for developments where 15 per cent of the floor area is set aside for affordable housing.
“Reaching it will require planning reform, a larger skilled workforce, a more productive home building industry, accelerated land release and a reduction in barriers to institutional investment,” she told“It will also require courage on the part of all levels of government and the community to make the changes we need to our towns and cities to ensure that homes are well located, near amenities, transport and employment.
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