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Last week, we witnessed coordinated lobbying efforts by Australia’s three main housing groups – the Property Council of Australia (PCA), the Housing Industry Association (HIA) and Master Builders Australia (MBA) – calling for subsidies to stimulate new home construction alongside a quick return to mass immigration.
This came after the HIA forecast that new dwelling commencements would collapse to around half of peak levels:
Unsurprisingly, Prime Minister Scott Morrison – a former general manager at the PCA – has been quick to oblige, flagging a massive housing stimulus package:
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.