Government Welcomes National Housing Supply Council Report

The first step towards establishing a national picture of housing supply and demand in Australia was taken today, with the launch of the National Housing Supply Council’s State of Supply annual report.

The National Housing Supply Council was set up in May 2008 to provide advice and research to Government and industry on the adequacy of housing and land supply to meet future housing needs.

The first State of Supply report provides analysis and evidence on construction rates and land supply for the next 20 years.

“The Government welcomes this report and I would like to thank National Housing Supply Council Chair Owen Donald and the other council members for their hard work and dedication in compiling this report,” Minister for Housing Tanya Plibersek said.

“The release of this report delivers on an election commitment to establish a detailed annual assessment of the Australian housing market.

“The building and construction industry has been telling us for some time that we need a comprehensive national report to guide both Government and industry policy in coming years.”

The report also looks into urban development factors which constrain housing supply and affordability.

“At a time when the economy needs to stimulate jobs, it is good for the long term economic future of the nation to increase housing activity,” Ms Plibersek said.

“That’s why we are investing in a range of initiatives such as the National Rental Affordability Scheme, First Home Owners Boost, Housing Affordability Fund and the recent commitment to build an additional 20,000 social houses as part of the Nation Building and Jobs Plan.

“The information in this report will contribute to effective policy development in the area of housing, including affordability and land supply, which will benefit all Australians.”

The Council also highlighted the need for further research to better understand how the issues identified in the report impact on the housing market.

It is important to note that the information in the Report was finalised prior to the Australian Government announcement of an additional $6.4 billion to be provided for social housing, the February 2009 interest rate reduction and the Victorian bushfires.