Breaking news- 2022/23 Federal Budget just released
The latest federal budget was announced by Finance Minister Jim Chalmers who will unveil plans to build one million new homes, a historic agreement between the federal government, the states and private investors, mainly in the pensions industry. He plans
The latest federal budget was announced by Finance Minister Jim Chalmers who will unveil plans to build one million new homes, a historic agreement between the federal government, the states and private investors, mainly in the pensions industry. He plans for the states and the investment community to join forces to increase housing supply, with a particular focus on adding new affordable housing.
Despite the recent fall in house prices across Australia, the country remains the most expensive in the developed world, with the median house price in Sydney, Canberra and Melbourne still exceeding $900,000. Recent rises in official interest rates have pushed up mortgage repayment levels significantly, while rental vacancy rates are at a record low of 1.1%.
The new housing plan will attempt to drive reforms to planning regulations, free up new and developed land for housing and encourage private investment into long-term property projects.
