Parliament should green light 105,000 homes 

Home Media Releases Parliament should green light 105,000 homes 

Wednesday 14 August 2024 

MEDIA RELEASE 

Parliament should green light 105,000 homes 

In a week where housing has been the focus of Question Time, the Property Council of Australia has today called on all Federal parliamentarians to help fix the housing crisis by accepting compromise legislation that will unlock an unprecedented 105,000 homes by 2034. 

EY modelling shows that while the compromise proposal is not as beneficial to housing supply as the Property Council’s original model, it still delivers a substantial shot in the arm for housing supply which will put downward pressure on rents. 

Agreed by the Community Housing Industry Association (CHIA), National Shelter and the Property Council, the legislative amendments would be the biggest Federal housing contribution to national supply this century.  

Fronting a joint press conference at Parliament House this morning to discuss the legislation currently in front of a Senate committee, Property Council Chief Executive Mike Zorbas said the Senate should green light the legislative amendments.  

“The prize is 105,000 new homes adding to much needed supply,” Mr Zorbas said. 

“105,000 homes is double the number currently supplied by the Housing Australia Future Fund.  

“Accepting this proposal will create a record setting housing contribution by a Federal Parliament. 

“Every MP that backs this proposal is helping to house more Australians. That is a proud legacy,” he said. 

ENDS 

Media contact: Rhys Prka | 0425 113 273 | [email protected] 

Ellie Laing-Southwood | 0416 007 830 | [email protected] 

What is build-to-rent 

Build-to-rent, or multi-family, housing is purpose built and designed long-term residential rental accommodation which is predominantly owned, managed and operated by an institutional investor for a long-term investment period. 

Build-to-rent housing: 

  • Reduces transaction/moving costs providing a superior savings pathway because long rental tenure is encouraged
  • Provides superior amenities, apartment personalisation and dedicated management services
  • Smooths the construction cycle as patient institutional capital is willing to invest year in year out and has no pre-sale hurdles
  • Increases housing supply in desirable inner-middle ring locations, leveraging off private and public infrastructure including additional amenity and public transport