Election year may bring promises for property market
Election year has arrived and both the commercial and residential property sectors should be addressed by candidates, according to property industry players.
The Housing Industry Association (HIA) has released a statement of 'cold, hard facts' about the industry in order to highlight some of the distressing aspects of the property business and place them 'squarely on the national agenda'.
Their fact list deals with the cost of buying a property, the slowdown in the construction sector, and the rate of population growth compared to that of new homes.
HIA managing director Shane Goodwin said: "With 2013 being an election year, it is essential that all parties embrace policies that will improve housing affordability and cut through the red and green tape that is strangling new housing development."
The Property Council of Australia (PCA) suggests that the current growth rate of three per cent makes for a challenge for the industry and government.
"The next election has to put cities and infrastructure development right at the top of [the political parties'] election platforms," explained Peter Verwer, chief executive of the PCA.
The federal election is currently due to be held on September 14.