The Australian Capital Territory (ACT) recently released a deficit budget for 2019-2020, which includes the plan to add staff to support the housing sector in the territory. However, this initiative will have a cost, according to the Housing Industry Association (HIA).
"The housing industry largely supports the hiring of additional staff to ensure building compliance, licensing and treatment of chronic delays in ACT's development licensing system, but the reality is that buyers will pay for this by increasing the development fee tax, "said Greg Weller, Executive Director of HIA ACT / Southern NSW. "It is disappointing that these services are funded by new taxes and royalties that will eventually be passed on to the public when building a new home."
Given that only 39% of planning decisions were made within the legislated time frame in 2018-2019, Weller asks if the industry and the community have the right to ask what level of service will be guaranteed with these numbers and additional costs.
As part of ACT's housing strategy, the budget planned to invest heavily in social housing. The move is accompanied by an additional forecast of $ 20 million for each year compared to the forecast. In addition, an investment planned in the modernization of the ACT Land Titles system and the electronic transfer of funds, as well as improvements in the access to online services via Access Canberra.
"The economic benchmarks of ACT remain strong, with a forecast of population growth of 1.75%. This highlights the need for the housing sector to remain strong and we look forward to working with the government in implementing these budget measures, "said Weller.
Top suburbs:
South Brisbane
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Artarmon
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North Lambton
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East Victoria Park
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Stafford Hts
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