Housing supply set to fall as thousands of new home contracts face cancellation
HIA warns housing supply targets are at risk as thousands of new home contracts face cancellation. A ban on SMSFs building new homes is blamed for undermining the government's 1.2 million home target.
1.2 million homes targeted by the government, now at risk due to the SMSF new-build ban.
The ban on SMSFs building new homes undermines the governments' objective of building 1.2 million homes - Tim Reardon, HIA Chief Economist
Will the SMSF ban on new home builds hurt my chances of landing construction contracts?
Builders and related trades face fewer new home projects if SMSF-funded builds are blocked. Reduced contract volumes mean less work for carpenters, plumbers, and electricians.
Key takeaways
- The federal government's 1.2 million home target is under threat due to the SMSF new-build ban.
- Thousands of new home contracts could be cancelled as a direct result of the policy.
- HIA Chief Economist Tim Reardon says the ban works against housing affordability goals.
- Tradies reliant on new residential construction may see a drop in available work.
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