The Business Council of Australia (BCA) is advocating for reforms to zoning laws across the nation to address the ongoing housing crisis. In anticipation of a detailed report set to be released later this month, the council emphasises that extensive land rezoning is essential for increasing the supply of medium- and high-density housing.
“We need state and territory governments to unlock more land for more homes in cities and towns across Australia so we can fix Australia’s housing supply crisis,” Council chief executive Bran Black said.
Black stated that zoning changes are necessary to facilitate medium- and high-density housing close to services like transportation while also ensuring the preservation of the area’s quality of life, green spaces, and heritage.
He also highlighted the reforms implemented in Auckland, which serve as a prime example of how significant rezoning efforts have successfully reduced housing stress in New Zealand’s most populated city.
“They’ve now shared a report showing that this has contained the cost of housing in the long run, approving affordability with rents at least 26% below what they would have been without the rezoning.”
The long-term housing prices in Auckland have also said to become stable following the rezoning changes.
The BCA said rezoning is essential to helping the government obtain its housing targets.
1.2 million homes were projected to be constructed in Australia by the end of the decade, but construction organisations now anticipate that this goal will not be met. Recent forecasts indicate that if the current construction pace continues, Australia may fall short by as many as 365,000 homes.