Updated modelling: housing package estimated to cut 10,700 homes and push rents higher
Industry bodies including HIA and Master Builders Australia have released updated modelling on the Federal Budget housing package, finding it is estimated to cut 10,700 homes and push rents higher.
10,700 fewer homes estimated to be built as a result of the Federal Budget housing package.
Will the federal housing package actually reduce housing supply and hurt construction work?
Builders and tradespeople face reduced work pipelines if housing supply drops by 10,700 homes. Less construction means fewer contracts for builders, electricians, plumbers and other trades.
Key takeaways
- Major industry bodies released updated modelling critical of the Federal Budget housing package.
- The package is estimated to result in 10,700 fewer homes being built nationwide.
- Reduced housing supply is expected to push rents higher for Australians.
- Less construction activity could mean fewer jobs and contracts for tradies across all sectors.
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