UDIA Budget Response
Targeted
Use of First Home Buyer Grant in Budget to Boost Housing Starts
The
targeted use of the First Home Buyers Grant of $10,000 for new homes and apartments
by the Victorian Government in the State Budget would create an important economic
lever to lift housing starts in Victoria, the Urban Development Institute of Australia
(UDIA) said today.
Executive Director of the
UDIA (VIC) Tony De Domenico said, "The boosting of new home starts has a
domino impact on the economy because of the wide number of employees, suppliers
and service industries involved, with many being in small business.
"The $10,000 new First
Home Buyers Grant will also boost confidence among first home buyers."
Mr.
De Domenico said, "The
focus on transport infrastructure, schools and hospitals in this May Budget needs
to become a long term bi-partisan action plan to maintain the livability and competitiveness of
Victoria with certainty to encourage investor confidence.
"With Victoria's rapidly
growing population there is also a serious issue to maintain housing affordability
and spread the cost of new infrastructure in growth corridors across the wider
community to ensure housing is not priced out of the market by government agencies
and local government charges.
"The Victorian Budget
today is an important part of re-invigorating the development industry in Victoria
and complements the ongoing reform and restructure of the planning process to
cut red tape and costs by streamlining and organising planning processes into
a more logical framework."
Mr. De Domenico said, the
Victorian development industry directly employs around 310,000 full time employees,
contributes around 12 per cent of the state's gross domestic product and $4.6
billion in taxes to all tiers of government.
Media Enquiries:
Ron
Smith, Corporate Media Communications, UDIA (VIC) - Mobile: 0417 329 201
