Delivering the federal government’s goal of building 30,000 social and affordable homes over the next five years is a big challenge and would require partnership with the superannuation industry, partnership with the states and developers, says National Housing and Finance Investment Corporation boss Nathan Dal Bon.
“I think the key is to try to attract superannuation funds into the development sector, which I think is possible with the right structuring,” the NHFIC chief executive said.
“Certainly we’re seeing strong support from the superannuation sector response today. I think partnerships with the states will be really critical.
“So I think to deliver those properties, leverage is critical, using estates and using a range of partnerships from both the financial sector and also developers builders to ensure that you can deliver in that timeframe.”
Ken Morrison, chief executive of the Property Council of Australia, says housing supply needs to be addressed as population continues to rise.
“There’s a bunch of programs which this government and the previous government proposed which support people’s entry into the market, but that affordable social piece we want is housing supply,” he says.
“One of the things that mid-year forecasts show us is that we are going into a supply crunch and housing supply is set to decline in real terms by about a third just as population growth revs up, so that’s a real issue.
“A housing supply and affordability council needs to be set up, which is to not just watch out those forecasts but also add KPIs for each of the states. Those targets need to have teeth attached to them. So we’ve got a system which incentivises a better supply model and then that potentially could be done.”
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