EY modelling shows that while the compromise proposal is not as beneficial to housing supply as the Property Council's original model, it still delivers a substantial shot in the arm for housing supply which will put downward pressure on rents.
Agreed by the Community Housing Institute of Australia (CHIA), National Shelter and the Property Council, the legislative amendments would be the biggest Federal housing contribution to national supply this century.
Fronting a joint press conference at Parliament House this morning to discuss the legislation currently in front of a Senate committee, Property Council Chief Executive Mike Zorbas said the Senate should green light the legislative amendments.
"The prize is 105,000 new homes adding to much needed supply," Mr Zorbas said.
"105,000 homes is double the number currently supplied by the Housing Australia Future Fund.
"Accepting this proposal will create a record setting housing contribution by a Federal Parliament.
"Every MP that backs this proposal is helping to house more Australians. That is a proud legacy," he said.
