22 April 2010
The Council of Australian Governments (COAG) – which is made up of the Prime Minister and each state premier – met earlier this week and, among other things, discussed the issue of housing supply.
COAG agreed that housing supply has not responded to demand and that continued population growth will place an even greater demand for housing and “unless demand-side pressures are well understood and supply-side constraints are identified and addressed it is likely there will be greater pressure on house prices”.
In an attempt to address some of these blockages to housing production COAG endorsed a housing supply and affordability reform agenda. The agenda focuses on decreasing the time it takes to bring housing to the market, reforming government policies that act as barriers to supply or that artificially stimulate demand and ensuring efficient use of existing housing stock.
More information can be obtained here.