The upcoming government budget needs to lay out a long-term strategy for Australian property which is able to ease the pressure on housing affordability and encourage people to get on to the market, the Residential Development Committee (RDC) has advised.
Fewer homes are being supplied to the market at a time when demand is increasing, claimed the RDC.
Caryn Kakas, RDC executive director, said the government should include a growth fund in its budget aimed at increasing competition across the housing market and encouraging the delivery of "innovative and affordable" residential property.
"It is crucial that any long-term strategy to increase the delivery of housing also removes the impediments to supply," she added.
This entails securing the provision of sufficient land for property development as well as encouraging urban renewal opportunities.
Australians for Affordable Housing recently expressed its hope that 2012 could be the year when the issue of housing stress in the country is finally taken on board by the government.
Posted by Craig Francis
