Better resourcing for the ABS very welcome

Home Media Releases Better resourcing for the ABS very welcome

Better resourcing for the ABS very welcomeThe Property Council of Australia welcomes the Federal Government’s decision today to provide an additional $2 million in funding for the Australian Bureau of Statistics (ABS).Executive Director – Residential, Nick Proud said the long overdue upgrade of the ABS’ systems was critical to maintaining the future integrity of the data industry relies on.”The significant boost to the ABS’ funding announced today is very positive news and something we have long advocated for,” Mr Proud said.”This is a timely, well-targeted investment by the Government that will deliver significant benefits.”Business relies on sound data from the ABS to plan ahead and ensure that as an industry we are delivering housing for Australians that best meets their needs.”Property and construction are the bright spots of the economy and having access to good data is vital to keeping these industries going strong.”We urge the Government to take this first step even further and resource the ABS to provide better, more comprehensive data which will enhance our understanding of the supply and demand requirements of homebuyers and renters.”Hitting the right balance between supply and demand for new homes is the best, and really the only way, we can make sure housing is affordable.”We need the data to do this, otherwise as an industry, and as policy makers, we are collectively flying blind. “The ABS already reports on lending finance, building approvals and building activity – additional supply and demand data is the logical next step to connect the dots and make much more efficient policy decisions.”The Reserve Bank again flagged this week its work with APRA to address house price issues yet their decisions are being considered in the absence of publicly available hard data.”The Treasurer has stepped up to put housing affordability squarely on the agenda, in collaboration with state and territory governments. Producing better housing data is a straightforward, practical and low cost step the Government can take to achieve tangible results on an issue of great concern to many Australians.” Media contact: Fiona Benson | M 0407 294 620 | E [email protected]