Legislation for the $10b Housing Australia Future Fund targets 30,000 social and affordable homes in five years. UDIA president Max Shifman says cost imposts, inefficient planning and failures caused the shortage, a new house can take six years, and Australia needs 45,000 affordable homes yearly, delivering 8,500.
As I told the Australian Property Journal: “The provision of safe and adequate housing is a whole of community issue. UDIA National recognises the HAFF as a golden opportunity for government, community housing and private at market/affordable providers to pull together to start solving the deep shortages in affordable and social housing,”
I also said: “These delays have pushed housing affordability into crisis and created chronic shortages across the entire housing spectrum. We now face the stark reality that Australia needs 45,000 new affordable and social housing each year just to keep pace, yet we are only managing around 8,500 dwellings through government and Community Housing Providers,”
And I added: “It is crucial that we start making inroads now given the ever-tightening supply market – even reducing the approval times for housing will release significantly more development ready land for affordable, social and at-market housing,”
Australian Property Journal, 9 February 2023 — Read the full article