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As Australia's housing crisis continues to dominate national discussion, the Property Council of Australia is urging Federal parliamentarians to pass legislation that could lead to the construction of 105,000 new homes by 2034. The call comes at a critical time, with housing issues taking center stage in Question Time this week.
The proposed legislation is seen as a significant federal effort to address the ongoing shortage of housing with support from the Community Housing Industry Association (CHIA) and National Shelter.
While the compromise plan is not as robust as the Property Council's original proposal, the Property Council said EY modeling suggests it would still provide a substantial boost to housing supply, potentially alleviating pressure on the rental market.
At a recent press conference at Parliament House, Property Council CEO Mike Zorbas stressed the importance of the Senate approving the amendments currently under review.
“The prize is 105,000 new homes adding to much-needed supply,” Zorbas said, noting that this figure is double what the Housing Australia Future Fund currently delivers. “Accepting this proposal will create a record setting housing contribution by a Federal Parliament. Every MP that backs this proposal is helping to house more Australians. That is a proud legacy.”
