The Property Council of Australia has presented a five-point plan to the NSW Government to help tackle the issue of housing affordability in the state.
Based on research and consultation, the Property Council’s plan includes:
1. Turbocharging housing supply through increased land supply and planning reform;
2. Reforming state property taxes and reducing fees, charges, and red tape;
3. Better co-operation between all levels of government;
4. Bridging the deposit gap, and supporting first home buyers better;
5. Supporting the rental market and fostering innovative, affordable rental product.
The plan has been reviewed by former Reserve Bank governor Glenn Stevens, who was appointed by NSW premier Gladys Berejiklian to address the issue of housing affordability.
Property Council NSW executive director Jane Fitzgerald explained that the five points were designed to address demand and supply pressures on the housing market so as to provide a well-rounded, achievable model.
The Property Council said it has outlined steps to be taken by the government for each point of the plan to help alleviate the housing pressure in the state.
Describing their five-point plan as a "blueprint for action", Fitzgerald added that Property Council members was ready to build the houses required in NSW, and just wanted the state government to take the policy and budget decisions to meet them halfway.
“We look forward to working Glenn Stevens and the NSW Government further on ensuring that our children, and our children’s children, can afford to buy a home in NSW," said Fitzgerald.