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SMBs finance 'would decrease housing shortage'

The government could reduce the shortage of properties in Australia if it made more funding available to small businesses, such as builders.

In order to decrease the shortage of properties in Australia, a focus needs to be put on making funding available to small and medium-sized businesses (SMBs), such as builders.

This is according to Graham Wolfe, chief executive of the Housing Industry Association (HIA), who was commenting after the federal government announced its banking reform package.

Entitled A Competitive and Sustainable Banking System, the package states that banks, credit unions and building societies are allowed to issue covered bonds in order to broaden access to cheaper funding.

"Addressing the lack of available finance for small and medium-sized businesses is the priority and more detail on how this could be achieved is required," said Mr Wolfe.

He added that there is a credit squeeze on builders, which is exacerbating housing shortages.

Last month, the Real Estate Institute of Western Australia claimed that there was not a shortage of Australian property in the state and there were 2,360 blocks on the market.

Posted by Steve Douglas 

- finance, business, housing, banks

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