May 19, 2023
For anyone who cares about the big issues afflicting housing markets, the Federal Budget delivered on 9 May was a monumental disappointment. Many Australians – including myself – believe that the biggest issue confronting the most people in this country is the COST OF SHELTER.
The big issue is the cost of buying homes and the cost of renting homes – with one key word describing the essence of the problem: SHORTAGE.
We have a shortage of everything that matters in our housing markets:- * A shortage of listing of homes for sale
- A chronic shortage of homes for rent
- A shortage of construction of new dwellings
- A shortage of the materials and tradespeople needed to build new homes
- A shortage of affordable options for people early in the property life cycle.
And there was nothing – NOTHING – in this Federal Budget which addressed the underlying causes of these endemic problems.