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The report also recommends that states reverse the bracket creep that has seen stamp duty costs increase in recent years, and also recognise the direct impact this tax has on housing affordability.<\/p>\n
Mr Wolfe said that the HIA also welcomes the enquiry\u2019s focus on reform of development contributions to deliver an equitable and transparent approach to these direct taxes on family homes.<\/p>\n
The HIA continues to call for these taxes to be removed and a new model for funding community-based infrastructure identified, where they remain in place they must have a nexus to the households that pay and a commitment to deliver the infrastructure in a timely way.<\/p>\n
\u201cThe recommendation that first homebuyers should be allowed to leverage their superannuation as a guarantee for a first home loan reflects HIA\u2019s long held position that there are other ways Australians can be assisted to bridge the deposit gap and achieve home ownership sooner,\u201d Mr Wolfe said.<\/p>\n
\u201cThe enquiry\u2019s caveat that such a move should only be implemented if the supply of housing can be improved at the same time also reflects a pragmatic approach.<\/p>\n
\u201cHIA recently commissioned polling which found that most people feel that owning your home is important to their financial security.<\/p>\n
\u201cThe community recognises that both home ownership and superannuation are important determinants of financial security in retirement.\u201d<\/p>\n
The polling also showed that people consider home ownership in their retirement to be equally important as superannuation.<\/p>\n
Furthermore, it showed that the community is concerned that those who do not own their own home will face financial challenges in retirement.<\/p>\n
Mr Wolfe said that the housing affordability challenges facing Australian households can only be addressed if the supply of housing can align with demand.<\/p>\n
HIA estimates that we will have to build 1.66 million houses by 2030 just to keep up with the demand from population growth.<\/p>\n
\u201cHIA looks forward to working with government to see these recommendations progress,\u201d Mr Wolfe said.<\/p>\n","protected":false},"excerpt":{"rendered":"
With the Federal enquiry into housing affordability and supply now completed and recommendations released, Australia\u2019s peak building body, the Housing Industry Association, has said that its time that all levels of government stepped up to meet the challenge. HIA managing director, Graham Wolfe said that the recommendations set out in the release of the Federal […]<\/p>\n