It’s no secret that our nation is amidst a national housing crisis, however in August, the government announced some changes to government policy, both at a federal and state level. These recent changes have highlighted some signs that things may be starting to turn things around.
The recent announcement was the introduction of the National Housing Supply and Affordability Council. The announcement of the Council came from Julie Collins, the minister for housing and homelessness at the National Homeless Conference in August. So what could these new changes mean for investment property in Australia?
What is the National Housing Supply and Affordability Council?
The National Housing Supply and Affordability Council is a new body that will bring together all levels of government, along with industry representatives, to tackle the issue of housing affordability. The aim of the Council is to ensure the Commonwealth plays a leadership role in increasing housing supply, improving housing affordability and boosting economic growth.
The council will have a particular focus on increasing the supply of new housing, as well as making it more affordable. A key role of the NHSAC is to play a key role in the development and implementation of Labor’s National Housing and Homelessness Plan.
National Housing and Homelessness Plan
The National Housing and Homelessness Plan aims to tackle a key issue in Australian society – homelessness. The plan is set out to make it easier for Australians to buy a home, easier to rent, and put a roof over the heads of more homeless Australians.
What do these government changes mean for property investors?
This could have a positive impact on property investors as the council has pledged to be advised by experts from a diverse range of relevant fields including finance, economics, urban development, residential construction, urban planning and social housing sectors, leading to a well-informed council and a cohesive vision towards urban development and new construction.
The National Housing and Homelessness Plan has also highlighted the importance of the need for new and affordable housing for our communities – something property investors have been aiming to provide for years.
The plan opens up the opportunity for property developers and investors to increase housing supply, improve housing affordability and continue to boost economic growth.
Disclaimer: This article contains general information only. Before making any decisions, consider your personal circumstances and seek professional advice.
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