Federal Government target is off the mark
With the continued talk of the Federal Government’s 1.2M new homes to be built by 2030 target, we can’t help but think that this target is well and truly off the mark.
With the increase in red tape, government regulations, slow approvals via local government and the cost of building a new house up around 40 per cent in recent years, you’d be forgiven for wondering how this target could be met.
Another major stumbling block to encourage new house builds, in particular for property investors, is the massive increase in Land Tax. Victoria leads the nation in taxes, particularly the threshold at when Land Tax kicks in so, building a new home as an investor in Victoria has changed dramatically in recent times.
Bring down the threshold of when Land Tax kicks in, cut out red tape and speed up the process of housing approvals and our state could well lead to a nation-leading housing boom.
But 1.2M new homes?…tell them they’re dreaming.
