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Author: Real Estate Institute of Australia
Real Estate Institute of Australia (REIA) is urging the Federal and State Governments
to improve planning approval times in a bid to address the diminishing housing
President Adrian Kelly said there needs to be a long-term and collaborative
industry-government plan for housing.
are down, with Victoria reducing by 21 per cent over the past five years while
WA saw listings fall by 45 per cent over the past year indicating a chronic
shortage of housing.
changes should involve reducing the cost of the development application
process, rezoning reform, improving approval times for development
applications, introduction of land release programs and the establishment
of a government-led mechanism for reliable data on housing demand and supply.
the rising market of 2021, this issue continues to be excessively politicised
and has become a conversation of public versus private, State versus Federal,
young versus old, wealthy versus poor and civil society versus business groups,”
Mr Kelly said.
2013, REIA has promoted supply as a key way to improve housing affordability
for all; and our Getting Real: Strategic Policy Forum on 9 June 2021
agreed that this is best addressed through a coordinated and well-funded
national housing plan.
estimates pre-COVID19, the housing shortfall sat at 150,000. NHFIC forecasts
that project completions will fall by 12 per cent by 2022 and that demand will
fully rebound by 2023 and the supply crunch will return in force. Budget 2021
estimates that net international migration will increase by to 235,000 by 2024-25
is no current government planning process to manage this. Both pre-and-post
pandemic, without improved supply planning, it is clear we can expect to see
prices jump as supply does not keep pace.
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