In a bid to strengthen the real estate sector in the country, the Housing Industry Association (HIA) has called for housing issues to be an integral part of the upcoming federal election agenda.
According to the HIA, around 25,000 fewer homes are being constructed each year - which can have an effect on the balance between supply and demand in the country.
This lower number of available properties entering the market can then result in prices being driven up, due to demand outweighing the level of supply.
Graham Wolfe, chief executive of industry policy and media at HIA, stated that job creation in the residential construction sector and steadily rising property prices across the country are "in the minds of Australian voters".
The HIA's stance has been further supported by Master Builders Australia, who recently launched a new campaign which calls for stronger housing policies to be considered in the nearing federal election.
Master Builders' Strong Building, Strong Economy campaign covers a range of topics, including the tax system, industrial relations and community structure.
Both the HIA and Master Builders have put forth the notion of making real estate in Australia more affordable for buyers - whether this is done through a review and reduction of taxes on new properties and land for sale, or improved planning and building requirements by developers.
According to Master Builders, the housing industry is one of the most heavily taxed industries in Australia - so a reduction in taxes would be a positive shift for the sector.
An improved system for building approvals, as identified by Master Builders in its campaign, will further help to improve housing affordability.
Also included in the campaign is the notion to introduce simplified and tailored Land Release Plans for state and local governments.
"As Reserve Bank Governor Glenn Stevens highlighted and key building and construction finance data shows, the building industry needs the next federal government to deliver policy road maps to reform if a strong building sector can help ensure a strong economy," said Master Builders Australia Chief Executive Wilhelm Harnisch.
Other ideas that the Master Builders campaign has put forth include reducing red and green tape in the construction industry.
This will happen through the removal of non-productive and unnecessary regulations for businesses, which will hopefully result in lower costs being passed on to consumers who choose to build homes.
