Newly appointed NSW Premier Barry O’Farrell must make good on pre-election promises to address the state’s housing affordability crisis, says the Housing Industry Association (HIA).
“A number of policy announcements were made by the Coalition during the election campaign period relevant to the housing industry in New South Wales, and now that the O’Farrell Government has a mandate these promises must be fulfilled,” said the HIA’s NSW executive director David Bare.
Noting that one of the key drivers of Sydney’s current housing stress situation is the lack of supply, the HIA has called on O’Farrell’s to fulfil his pre-election pledge to accelerate land release and reduce infrastructure costs on new developments for more affordable housing.
“The housing industry supports such measures. Today, NSW faces a critical housing shortage. A shortfall of around 70,000 homes and a well below par build rate is crippling affordability,” said Bare.
The HIA also highlighted the Coalition’s promise to publish annual ‘real time’ new dwelling targets for Sydney.
“HIA believes there needs to be a collective will and strength of leadership from within the new O’Farrell Government to create a ‘can do’ mentality in the provision of housing. Focus is needed on clear, measurable and reportable targets; and a desire to truly remove the impediments to housing supply in both Greenfield and infill developments,” said Bare.
Can you afford to buy in this suburb? Find out how much you can borrow
Top Suburbs :
Get help with your investment property
Do you need help finding the right loan for your investment?
When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.
Just fill in a few details below and we'll then arrange for a local Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus and appointment is free.
We value your privacy and treat all your information seriously - you can check out