The Urban Development Institute of Australia today launched its national election campaign ‘Building a Liveable Future for all Australians’. On behalf of its over 2,000 industry members, UDIA is on a mission to highlight the key issues across housing, infrastructure and urban planning which affect every day Australians.
“As Australia continues to grow, it is increasingly more difficult for our future generations to buy a home,” UDIA National President Darren Cooper said.
Australian cities are consistently ranked as ‘severely unaffordable’ on a global scale, with all five of our major capital cities ranked among the least affordable cities in the world.
The housing affordability issue has compounded over the last 15 years, on some measures deteriorating by 40% across the Australian capital cities.
That is why UDIA is calling on the Federal Government and the Opposition to focus on key issues such as housing affordability and diversity, targeted infrastructure provision as well as getting population settings and settlement policy right.
UDIA is calling on Federal Labor to maintain the current negative gearing and capital gains tax settings to continue to encourage private investment into housing. The housing market has dramatically changed since the Labor policy was announced and therefore will not produce the outcome it was designed to achieve.
Mr Cooper said the development industry provides $202.9 billion in direct contributions to the Australian economy and accounts for 14% of Australia’s total employment.
“This industry is facing significant constraints in credit availability to consumers, long delays in government approvals as well as potential taxation and immigration changes, which are creating stress and uncertainty in the market,” Mr Cooper said.
“We have an environment of falling house prices and plummeting sales volumes which is having a negative flow-on effect to the wider economy.
“Our campaign calls on the government and opposition to keep the market and the industry viable as we approach difficult times. This includes maintaining the current negative gearing and capital gains tax settings until the impacts from any proposed changes to these regimes are fully understood and the market is in a more stable position,” Mr Cooper said.
“The government should maintain current levels of skilled migration and keep Australia open for business to boost productivity, increase jobs and grow our nation.
“Finally, we need to build a more connected Australia, focusing on targeted infrastructure projects to ensure services are delivered where housing is developed.
“We need Government to rise to the challenge to make our cities more globally competitive, more liveable and the industry more sustainable.
“Our campaign, ‘Building a liveable future for all Australians’, is raising these issues with both parties to develop a more efficient and equitable Australia.”