Campaign slams Aussie housing situation

The Housing Industry Association (HIA) is in the midst of a campaign to highlight what it says are distressing facts about housing.

The HIA claims that a disproportionate level of taxation on family homes, growing rates of unaffordability and the high level of job losses in the building sector are severely hurting the property market.

HIA managing director Shane Goodwin said access to affordable housing remains one of the biggest challenges.

“Building new and affordable homes should be actively encouraged, supported and sustained by governments. Governments can’t ignore housing any longer. They need to act more constructively, cooperatively and determinedly to meet the housing needs of Australians and their families.”

Other key issues that the organisation believes Australia is facing include:

  • This year, 25,000 less Aussie homes will be built than a decade ago
  • Australia will need 1.3 million new homes built by 2020. At the current rate of building, more than 150,000 families will miss out on the home they’ve waited for
  • Severe drops in new housing have forced many manufacturing and small businesses to close with risks of further layoffs
  • Taxes, levies, fees and charges account for 40% of the cost of a new home

To discuss this article or anything to do with your finances, please call our office today and we will be happy to assist you.

  • SHARE

Disclaimer:

This article is written to provide a summary and general overview of the subject matter covered for your information only. Every effort has been made to ensure the information in the article is current, accurate and reliable. This article has been prepared without taking into account your objectives, personal circumstances, financial situation or needs. You should consider whether it is appropriate for your circumstances. You should seek your own independent legal, financial and taxation advice before acting or relying on any of the content contained in the articles and review any relevant Product Disclosure Statement (PDS), Terms and Conditions (T&C) or Financial Services Guide (FSG).

Please consult your financial advisor, solicitor or accountant before acting on information contained in this publication.