Australian property body the Housing Industry Association (HIA) has welcomed the news that New South Wales (NSW) planning and infrastructure minister Brad Hazzard plans to consider alternative funding methods for the infrastructure involved in community housing projects.
David Bare, the HIA's executive director in NSW, claimed that the current approach to creating infrastructure for projects such as these is one reason development levels have been so low.
"Housing affordability and supply has been significantly affected in NSW by the current inequitable model," he suggested.
Changing the system so the whole community plays a part in meeting costs will help solve this problem and encourage investment across the state, Mr Bare argued.
He added that rate-capping is a practice which should also be ended in order to boost property investment across NSW.
SQM Research director Louis Christopher recently argued that property prices in Sydney have remained relatively stable in contrast to the rest of NSW, where many houses are available for a discount cost.
Posted by Steve Douglas
