With the release of the Productivity Commission’s review on the National Housing and Homelessness Agreement, it is recognised that constraining supply is a leading cause of declining home ownership rates.
Lansell CEO Jeff Smith added “Housing affordability is an issue that needs to be addressed by local, state, and federal governments. By dramatically slowing the land development process, and adding red tape and costs to new land, as well as existing homes, all levels of Government are contributing to Australia’s housing crisis.
If they are truly interested in housing affordability, they could stop adding inertia and costs to house and land packages, and this would assist the market. As builders, one of our key demographics is first-home buyers, and they are being priced out of the new home market because of this constant increase in government costs and oversight.
As new home prices go up, so do existing home prices. This spiral away from affordability is now affecting the second generation of Australians who have given up the dream of owning their own home.
And that is a tragedy for all Australians.”
