Materially reducing reliance on the "bank of mum and dad" will take different thinking. This especially relates to #housing #policies from state and local #planning departments which are driven by utopian ideals, not reality.
Making housing work needs understanding and acceptance of buyer preferences and (financial) capacity. People will not be forced into buying homes which don't suit their needs or they can't afford.
The concept of "well-located" housing in the minds of government is disconnected from what most consumers want and can afford – especially in the apartment sector. We would need such development to be 50% cheaper (impossible) before this becomes an attractive option compared to a detached house/townhouse.
So, here are four things to focus on to actually get more attainable (for purchase) housing on the market, sooner, and get closer to those big targets:
1. Unlocking land for scale #brownfield and #greenfield precincts must be the short term priority. They deliver great housing choices at much more affordable prices for more people. Current tax settings in certain states (VIC) make this harder.
2. Fast-track all projects of scale without the "quid pro quos" planning departments love to seek in the form of increased fees/contributions/inclusions. This only further reduces feasibility at a time when many projects currenlty don't work at all.
3. Target projects which use lower cost construction methods. Commercial (flat) construction costs 3-4x as much as domestic. You can get good very density and efficiency in mid-density development if planning rules are flexible enough.
4. Invest now in precinct enabling #infrastructure to unlock housing where development can otherwise proceed. Let private sector lead the process instead of the States/Councils to get this moving fast.
Anything else is fiddling around the edges or will take too long. Then use the time bought here to start the transition to an "ideal" density scenario which will take a decade or more and many incentives along the way.
Unless the private #development sector, which is expected to deliver 96% of the 1.2m Housing Accord target, is a key part of the conversation, and is appropriately enabled and supported to build the things we are good at now, we will not come close.
The focus for too long has been on the thin edge of the wedge, which industry supports, but not at the expense of delivering homes for the other 96% of the continuum.