Federal housing investment welcomed by key stakeholder

Master Builders Australia has endorsed the funding allocated towards housing by the federal government, and hopes that the Albanese-led cabinet will now assess how to reduce building costs and time.

Master Builders Australia CEO Denita Wawn is steadfast in her belief of what must be done to resolve the crisis at hand.

“The key to solving the housing crisis: supply, supply, supply.

“We know whether it’s social and community housing, rentals or owner-occupiers, there is not enough supply to house all Australians. Targeted measures in social housing, student accommodation and critical infrastructure all go towards relieving some of the more acute supply pinch points.

The billion dollar investment into housing around infrastructure was given the thumbs up by Wawn.

“Increased funding for critical infrastructure to support new home building reinforces the important role of commercial and civil construction in building sustainable communities,” she says.

“Requiring universities to increase their supply of student accommodation is an excellent example of how Ministerial portfolios should be working together.”

Wawn now believes the significant challenges of solving the crisis beyond housing supply must now be addressed.

“With a strong funding stream now locked in, Governments need to turn their minds to reducing the other barriers to housing supply like reducing the cost of building and time it takes to build.

“Workforce shortages, low productivity, industrial relations and planning reforms all continue to drag down our capacity to deliver the 1.2 million homes over the next five years.”

The $9.3 billion National Agreement on Social Housing and Homelessness fund will see the repair and building of new social housing lots nationwide across a five-year period. $1 billion has additionally been directed towards crisis and transitional accommodation for women and children fleeing domestic violence, and youth under the National Housing Infrastructure Facility.