Australia’s housing construction sector faces significant challenges due to protests, pandemics, and shortages of skills and materials. A recent report from the Productivity Commission calls on local, state, and federal governments to streamline regulations, which could accelerate planning and approvals. This shift would not only promote innovative housing solutions, such as prefabricated homes, but also address skill shortages through targeted training and migration initiatives.
Master Builders’ CEO, Deneta Wawn, emphasised the pressing need for tangible changes, stating that timely coordination amongst the multiple trades involved in building a house is crucial for efficiency. The construction industry also dealt with controversies last year surrounding alleged corruption and ties to criminal groups linked to the CFMEU.
In light of rising housing demands, the Property Council is advocating for measures to ease first-time buyers’ entry into the market, such as capping interest rates and reducing deposit requirements. According to Property Council CEO Mike Zorbas, these suggestions represent a vital first step to attract bipartisan support. However, currently, neither political party has expressed willingness to consider these reforms. By reducing bureaucratic obstacles, the aim is to enhance housing availability for Australians, especially as the Reserve Bank prepares for an imminent rate decision.