The announcements are worth roughly that much, not that this came as a surprise. We had already seen the $54m investment into modern construction methods, and the increases to the Help to Buy thresholds, which whilst useful in reflecting recent price increases, is still capped to 40,000 applications.
🪙There was nothing else material (other than the $5/wk tax saving which others more qualified than me have discussed at length).
Unfortunately neither measure will contribute to stimulating new #housingsupply for the reasons I have discussed at length, and will do zero towards meeting the already stretched 1.2m #housingaccord targets.
🎯If the Federal Government were really serious about getting closer to those goals, it needed to:
1. Create bigger and earlier incentives for the States to unlock more #feasible land supply instead of the fixation with current planning reforms which won’t do anything for some time 2. Match or extend the $5b promise from the Federal Opposition for fudning enabling infrastructure 3. Make changes to temporary migration visa classes to allow more skilled construction workers into the country (reflective of the prevelant reality of the subcontractor model and pay rates)
🤷♂️Maybe there will be more on housing in the $1.5B of decisions made but yet to be announced as part of the #election campaign?
What else should the Australian Governmenthave done? And what does the opposition have in store for #budgetinreply?