Housing supply and affordability report released

Minister for Housing and Homelessness Mark Butler today welcomed the National Housing Supply Council’s report, Housing Supply and Affordability Issues 2012-13.

Mr Butler noted encouraging signs that the housing industry has made positive steps to overcome affordability challenges and identified major federal funding as supporting a more innovative approach.

The report also identified the importance of finding the right level of regulation and planning policy, including the adequate provision of necessary infrastructure. This is key to states and local governments tackling slow housing supply growth and stretched affordability.

“We have made an unprecedented investment of more than $20 billion to improve housing supply and affordability issues.”

“The $4.5 billion National Rental Affordability Scheme alongside the $400 million Housing Affordability Fund and the $100 million Building Better Regional Cities program are having a positive impact.”

“There is also the stimulus investment we made during the global financial crisis including the $5.6 billion Social Housing Initiative and the $2.2 billion First Home Owners Boost.”

The report also identifies key issues as the baby boomer generation begins to retire.

“The future housing choices of the baby boomer generation are expected to have a sizeable impact on the overall housing circumstances of the population.”

“We know that the boomers expect to be able to ‘age in place’ but they are not a homogenous group many will need affordable accommodation as they age.”

Mr Butler thanked the Council’s Chair, Dr Owen Donald, and the rest of the Council for their efforts in producing the report.

“The Council continues to provide valuable insight into housing circumstances and policy.”

The Housing Supply and Affordability Issues 2012-13 report is available at http://www.nhsc.org.au/.

Four related scoping studies commissioned by the Council: Understanding housing and location choices of retiring Australians in the ‘baby boom’ generation, Migration and housing needs, Households responses to declining housing affordability and Housing supply responses to changes in affordability are also available on the same website.