Reducing the cost of new housing supply and tackling the deposit gap faced by aspiring first home buyers is the appropriate policy response to Australia’s housing affordability challenge,” says HIA Chief Executive Industry Policy, Kristin Brookfield.
With Melbourne's population expected to grow by 100,000 new residents every year, the changes allow for greater density in the city's middle-ring suburbs, says Joseph Walton of the REIV.
The Reserve Bank of Australia left the official cash rate at 1.50 per cent but credit conditions have tightened for investors over recent months, and owner occupiers are wary about rates as the banks move unilaterally, says Shane Garrett of the HIA.
Australia’s economy contracted during the September 2016 quarter, only the third decline in the last decade, due in part to a decline in construction activity.
