Greg Hankinson , Director - Metropole Constructions
Housing is becoming more of a buzzword this election, and it’s no surprise given many Australians are feeling the pressure.
From aspiring homeowners to renters and those on social housing waitlists, the common denominator is clear – a chronic lack of housing supply.
The Master Builders of Australia campaign, “More Homes for Aussies”, hits the nail on the head. We need to break down the barriers to building new homes and rekindle the dream of affordable homeownership.
So, what are the major players offering this election? Here’s a look at some of the standout policies.
Both major parties have rolled out initiatives for first-time buyers, with a key focus on new builds to increase supply.
The Coalition’s proposal includes tax-deductible mortgage interest payments (with caps) and an expansion of deposit guarantees. Meanwhile, the ALP is committing $10 billion to unlock 100,000 new homes for first home buyers and offers deposit guarantees without income limits.
Ultimately, individual circumstances will dictate which policy suits aspiring homeowners best – but both appear to be steps in the right direction.
However, throwing money at the problem isn’t enough. From skyrocketing costs to workforce shortages and bureaucratic hurdles, getting housing projects off the ground remains an uphill battle for many big developers.
Both parties acknowledge the importance of apprenticeships, but more needs to be done to attract and train the next generation of builders.
The Coalition’s employer incentives give them an advantage here. Equally, it’s time to look abroad – fast-tracking visas for skilled tradespeople is a no-brainer.
Housing isn’t just bricks and mortar. It requires enabling infrastructure – roads, power, water, and sewerage – and here, the Coalition edges ahead in funding commitments. Yet, effective delivery is crucial.
The ALP’s cooperation with the states on planning reform could be a game-changer for reducing delays, but they’re facing a wait-and-watch situation with the National Construction Code review promised by the Coalition.
When it comes to industrial relations, both sides approach productivity differently, and opinions are divided on which is more conducive to smoother projects.
Both parties have made housing a central issue, which is encouraging, but neither has presented the complete solution to Australia’s housing crisis.
What’s clear is this – the next government must tackle housing supply head-on. Without it, the cost-of-living crisis will only deepen.
