NSW's residential housing supply needs serious attention— HIA

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Political parties need to get serious about delivering a more consistent supply of residential housing, according to Housing Industry Association (HIA). This is to meet the underlying demand of a growing population in the state.

This call to action comes after HIA disclosed its five-point policy imperative, which will be implemented in the weeks prior to the NSW state election. 

The industry group identified five imperatives that it said political players in NSW must start considering. These include getting serious about maintaining and delivering on housing supply targets, cutting red tape and taxes for the residential building sector, the coordinated delivery of land & residential infrastructure, improving the efficiency of the planning system and processes, and developing the skilled-trades workforce of tomorrow.

“Whether it’s through home ownership or the provision of rental accommodation, NSW needs to maintain housing supply at around 50,000 new dwellings per annum year on year. As we head to the NSW state election, the prosperity of NSW is in the balance and the opportunity to regain the mantle of the top state relies heavily on securing a strong residential construction sector,” said David Bare,  HIA NSW’s executive director.

The housing industry is weighed down by increasing regulation, delays, uncertainty in decision-making, and rising costs that all contribute to making housing less affordable in NSW compared to the rest of the nation, according to HIA.

In addition, the economic multiplier effect that new housing development creates through jobs growth, manufacturing and supply of materials and professional services cannot be overlooked.

“It is critical that the state’s political leaders understand these simple facts and ensure their policy positions support new housing supply rather than use development and construction as political footballs,” said Bare.

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