Calls for Turnbull Ministry to address national focus on housing
After a long wait for the decision of the 2016 Australian Federal election the Turnbull Government has finally been reappointed; And according to the Housing Industry Association (HIA) their focus should be on a housing portfolio.
As the voice of Australia’s residential construction industry, the HIA have released a statement stating, a strong national focus on housing is critical to retaining Australia’s AAA credit rating.
“Residential building activity has been the engine room of the Australian economy for the past four years,” said HIA’s Chief Economist, Harley Dale. “It has filled the void left by a contracting mining sector, and has gained some ground on a decade of undersupply in new housing. But there’s much more that needs to be done if Australia is to defend its AAA credit rating.”
“The incoming Commonwealth Government needs to focus on building the new homes for our growing population, meeting the housing needs of our changing demographics, addressing the housing affordability challenges confronting younger generations, supporting the 321,595 businesses that operate across the residential building industry, and importantly, enabling the industry to grow and expand its contribution to the Australian economy,” Dale states.
Dale goes on to state that, “Australia needs a Commonwealth Housing Minister – a senior Minister in cabinet to provide national leadership, to coordinate federal, state and local government housing programs, to guide important industry policy reform nationally, and ensure housing has a front seat in cabinet discussions around taxation reform, national budget repair, infrastructure and workforce development.”
What the Turnbull Ministry will do about these calls is yet to be determined.
(Source: HIA Media Release: Housing Portfolio must be in new Turnbull Ministry)