Housing Australia’s Talent
15 May 2023
New research from the Business Council reveals two thirds of Australians believe that properly planned and well managed migration is good for Australia, Business Council chief executive Jennifer Westacott said.
“A significant majority of Australians also have experienced the real impact of worker shortages, whether it’s accessing services or expanding their businesses because they can't get people to actually do the jobs.
“We know that well managed migration is not only good for the economy – it’s a crucial bedrock of Australian society, but we have to manage it properly.
“We also know there is simply not enough new homes being built to meet demand at a time when housing affordability is declining. In fact, new housing supply has been falling over the last half-decade.
“There needs to be a clear plan for building new homes and infrastructure that is aligned with the growth in Australia’s population.
“Business welcomes the government’s commitment to the Housing Accord, which aims to build one million new homes over the next five years from 2024, however better coordination with state governments is crucial.
“Our Housing Australia’s Talent paper lays out key recommendations to fix housing affordability and access to low-cost housing with a new focus on build-to-rent projects and increased access to finance for community housing providers.
Key recommendations:
- Establish long-term national net-additional dwelling targets tied to forecast population growth. This would form the basis for state and territory targets linked to financial incentives and penalties.
- Speed up the time it takes to rezone land and approvals for new housing projects.
- Rejuvenate areas close to transport connections.
- Adopt more innovation around housing products such as build-to-rent to make long-term renting a viable and attractive alternative to home ownership.
- Ensure stronger alignment between the planning of new housing stock in lock step with the planning of infrastructure, such as roads, schools and transport by tying federal infrastructure projects to housing delivery. Using the review of the federal infrastructure pipeline to start this process.
“Our regions also have an important role to play but we need better planning around housing. Better planning will ensure regional Australia is a magnet for people to live, expand the regions' economic activity and in doing so, growing the economy.
“It is clear that Australians believe there is an unquestionable benefit of a strong and healthy migration program.
“Now is the time to do the important work around housing to ensure we remain an attractive destination for people to live, to access good jobs and for businesses to attract workers that they urgently need in order to expand and grow.”