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Housing costs are prohibitive, housing supply is restricted and young people, having missed out on the boom years of property (when housing became an investment not just a place to live), are spending far too much of their income on sub-standard homes. Poverty is on the increase, economic productivity has stalled, and private landlords, landowners and volume housebuilders have extracted excessive value from the housing economy. Ours is an industry in crisis and in need of a new vision and a plan. While there is no silver bullet, and the transformational change needed will take time, there are many sensible actions that can set the UK on a clear, exciting and rapid path to better homes for all, while bolstering the creative and circular sustainable economy and generating common wealth. 'Getting Britain on the move' presents 10 such actions – read it in full below.

Yesterday, the Business Council of Australia released its landmark "It's time to say yes to housing" report calling for significant policy changes to address Australia’s chronic housing supply crisis. The report recommends:  🔸 A Federal Government established national reform fund be created to incentivise states and territories to fix housing regulation, planning and approval processes.  🔶 Rezoning land to legalise housing in areas in demand and creating more flexible and consistent zoning rules that respond to need.  🔶Building more infrastructure to support new housing.   🔶 Faster and more efficient approval process to accelerate critical developments.  🔶 Performance management of council approval processes and giving state governments new intervention and approval powers.  🔶 Addressing labour and materials shortages and training more workers in the skills needed to build housing. 🔶 New approaches to community consultation and heritage management.    🔶 Ensuring taxes and charges do not impact investment for new housing supply.  🔶 Tackling criminal behaviour on building sites. Read the full report here: https://lnkd.in/gtrqe2nk

Yesterday’s government announcement regarding major changes to boost housing growth in New Zealand is good news for the housing market. Even though some of the minutiae will be revealed in more detail in the coming months, what the Housing Minister unveiled yesterday is a good starting point to spearhead necessary changes to increase housing supply and, therefore, make housing more affordable. Not much was mentioned regarding commercial real estate, but the more relaxed rules around mixed use developments are also welcome since it could serve as a catalyst to bring more dynamism into our cities. It’s a good thing when red tape is replaced by ‘under construction’ tape. An efficient and working housing market not only unshackles investments but also promotes inclusive growth. As with any market, when a housing market is over-regulated, the positive outcomes tend to benefit a few in detriment to certain population groups, like low-income families, young people, and senior citizens. Some years ago, the OECD published a report on housing and inclusive growth, in which New Zealand was ranked as the least affordable housing market for bottom quintile income earners. #CBRE #Growth

Just finished 'The Great Divide: Australia's Housing Mess and How to Fix It' by Alan Kohler. Outstanding. Not only does he clearly set out the appalling mess we have created for the younger generation with housing now being 7.5 times annualised average weekly earnings - when it used to be 3.5 - he properly addresses the question of supply AND demand, in particular the outrageous tax benefits we give to investors to bid against our kids. And instead of just promoting developers' interests by arguing that the solution is huge, legally unmanageable towers and high-density estates, he argues in favour of high-speed rail lines so that people can live outside capital cities and still get to work (and services) in under an hour - as is the case in many countries. This would revitalise areas of regional Australia and give people the housing they want. People want to live in houses not because they are too unsophisticated to realise apartment living is wonderful. Apartment living can be, but so is living in a legally simple house with a yard, greenery and space for kids to play. That is why people keep buying on Sydney's fringe. A high-speed rail line would require government investment in infrastructure but governments avoiding paying for infrastructure (public housing, schools, basic urban services etc) is what has got us into this mess in the first place. Human beings need housing and services. That costs money no matter how you do it. Currently, no one is calculating the cost to government and the community of complex, dispute-prone high-density development. #housing #strata #housingcrisis #development #investmentproperty #tax #negativegearing #CGT Chris Minns Michael Koziol Anthony Albanese

Such an important topic in the current climate. Our infrastructure and real estate team are focused on social and affordable housing. Proving the point, we've just released this insightful Pulse on Social and Affordable Housing in Australia. This collates the results of our recent survey of 88 senior leaders, decision makers in the sector. Frankly, it's a must read. #socialhousing #affordablehousing #communityhousingproviders #CHP #privatecapital. Nicholas Carney, Lucy McCullagh, David Sinn, Joseph Varghese, Julie Jankowski, Frank Poeta, Julie Couch

We recently surveyed 88 senior industry leaders to get a pulse on the current state of social and affordable housing in Australia, including what’s working well and opportunities for reform. “Australia is in a housing crisis with not enough homes available to meet demand. The Federal Government has prioritised the issue through the establishment of the Housing Australia Future Fund (HAFF) and National Housing Accord, among other initiatives, which has been well received by industry and is a positive step towards supporting the delivery of more social and affordable homes. "There are some reservations from industry about their ability to meet the national target, however the solutions are clear. It will require quick action and whole-of-industry buy-in from state and federal governments, as well as the private sector,” - Partner and Global Co-Head of Infrastructure, Nicholas Carney, said. To view the full survey findings, read our report: 'A Pulse on Social & Affordable Housing in Australia 2024', launched today: https://lnkd.in/gMaP4Wmg

"‘Housing can’t be both a good investment and broadly affordable—yet we insist on both.’ This paradox encapsulates a core dilemma not just globally, but particularly in Australia, where the dream of homeownership clashes with the reality of ever-increasing property prices. Australia faces a significant challenge: balancing the housing market as an investment asset/retirement fund while ensuring it remains accessible to a broad spectrum of society. The surge in property values has been beneficial for investors and homeowners, seeing substantial returns on their investments. However, this success story for some is a barrier to entry for others, with many Australians finding themselves priced out of the market.As we navigate this complex issue, it's crucial for policymakers, industry leaders, and communities to engage in open dialogues about sustainable solutions. Initiatives being put in place include innovative financing models, investment in affordable housing projects, and reforms in land use policies. The goal? To democratise access to housing without undermining its value as an asset. This delicate balancing act demands a rethinking of the question posed to us all: How can we collectively contribute to a housing market that serves both as a stable investment and a basic human necessity? #Economic Development #AffordableHousing #RealEstateInvestment #PolicyChange"

Blue Lens: Australian housing supply and demand, not so simple - Much of the discussion around Australia’s worsening housing affordability challenges offers a market-based supply response as the ideal solution. - But responding to these challenges with new supply, in the absence of pushing just as hard on other policies, is unlikely to materially improve affordability, even in the medium term. - Pragmatic interventions to manage demand and limit the misallocation of housing may well hold more promise than supply alone. - More Edward Scissorhands and less the invisible hand perhaps. https://lnkd.in/gTZhGqP5

The Need for More Housing in Australia: Understanding the Challenges In this article below, we explore several factors thar contribute to the lack of affordable housing in Australia and what needs to change.