The Coalition reiterated its plans for migration caps with an exemption for much-needed construction skills vital for the creation of new homes, industrial hubs and commercial projects. The Coalition has restated its welcome $5 billion commitment to dissolving last-mile infrastructure bottlenecks and to dealing with the law-breaking construction wing of the CFMEU.
Property Council Chief Executive Mike Zorbas said, "Hyper-scaling traineeship incentives is welcome. BuildSkills Australia estimates we need another 90,000 workers nationwide to get to our 1.2 million homes target by 2029.
"On broader housing policy, the imminent election has turned budget week into a pre-game warm-up - we can now expect key housing and planning announcements during the campaign proper.
"Our national housing policy priority must remain streamlining investment and planning processes to get more homes out the ground at less expense.
"Building world-class communities takes too long in Australia. Pipelines of land often take up to a decade to achieve the necessary planning and environmental approvals and navigate utility delays and expense. The Coalition's approach to federal approvals and last-mile infrastructure will help make significant progress in these areas.
"In building the assets our growing communities need, both major parties should remember that international investment and skilled migration have shaped our cities for the better for over 80 years.
"We will need to grow skilled migration in coming years to help bridge our skills gaps, sustain our tax base and support our ageing population.
"Whether it is Canadian pensions funds or global sovereign wealth funds, we need to attract more, not less, institutional money to keep building the homes, offices and industrial parks that our growing population needs.
"To do this we need to simplify FIRB and ACCC processes, balance APRA guidance, remove state institutional investor surcharges, streamline costly state planning systems and expand high-quality housing options, such as retirement communities, purpose-built student accommodation and build-to-rent developments.
"We look forward to working with the Coalition on the details of their impending housing policy announcements," he said.
