3 May 2024
MEDIA RELEASE
Property Council welcomes State of the Housing System report
The Property Council of Australia has today welcomed the release of the State of the Housing System 2024 report.
“This important report shows the government’s housing targets are Australia’s best chance of bridging our housing deficit,” Property Council Chief Executive Mike Zorbas said.
“In the report’s own words, we need more housing of all types – social housing through to market home ownership.
“The golden levers here are planning efficiency, land release and last mile infrastructure and governments are finally starting to understand this.
“Then there is the fastest way for the government to introduce high-quality new homes to take pressure off the broader market – purpose-built student accommodation, retirement living communities and build-to-rent (BTR) housing.
“On BTR housing, the federal government has a unique opportunity to replicate overseas success through the legislation it is reviewing in the next fortnight.
‘If executed well, reforming the withholding tax rate for BTR housing will create 160,000 new homes by 2033,” he said.
ENDS
Media contact: Rhys Prka | 0425 113 273 | [email protected]
Ellie Laing-Southwood | 0416 007 830 | [email protected]