The new national president of the Property Council of Australia (PCA), David Harrison, has called on governments to fix the chronic ‘housing shortages’ dogging the nation:
The PCA is also pushing for underlying issues to be addressed with Mr Harrison saying it is trying to prosecute the case around housing supply.
“When there’s a shortage of housing, trying to get politicians to understand that if you don’t do something about it, you’ll end up creating an imbalance of demand and supply and pricing gets out of control,” he said…
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“It’s not just excess demand driven by low interest rates, it’s actually a lack of supply to satisfy the demand for housing, both single dwellings and apartments,” he said.
“The biggest issue we’ve had as an industry is state governments have been so slow in rezoning land and it’s created a problem with supply of new single dwelling housing, particularly, but also medium density,” he added.
Hilariously, David Harrison’s complaints about housing shortages follows in the wake of the PCA demanding the Morrison Government reboot mass immigration:
Property Council of Australia CEO Ken Morrison says population growth through immigration needs to be restarted as soon as possible since the success of the HomeBuilder scheme won’t last forever…
“It’s keeping the economy going and keeping construction workers in jobs…
Mr Morrison said the “big engine of the economy” which is immigration needs to be restarted earlier than what the budget has proposed.
“If we don’t get population growth restarted, it can only go so far”.
Any housing shortage pre-COVID was caused by the federal government throwing open the immigration floodgates in 2005:
But now that immigration has collapsed, Australia’s ‘housing shortage’ has miraculously disappeared:
Regardless, Australia’s developers are sitting on a mountain of zoned residential land, totaling a decade-plus of supply:
Therefore, it is hard to take the PCA’s shortage claims seriously in light of the above evidence. The PCA is, yet again, talking its own book.
Sadly, our political leaders don’t care about these truths. After stimulating the construction of thousands of extra homes through HomeBuilder, the federal government will inevitably return to importing hundreds of thousands of migrants to fill them. This is how Australia’s Ponzi economy works.
We are the housing equivalent of a narco state, after all. And our governments dance to the tune of their property lobby paymasters.
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