Today the National Housing Finance and Investment Corporation (NHFIC) released data insights on the influences driving the recent construction cost inflation.

Good quality local infrastructure contributes to people’s wellbeing, increases the liveability of our local neighbourhoods and cities, and helps facilitate the necessary flow of new housing supply for a growing population. Poorly planned cities and inadequate local infrastructure can impede new housing supply and exacerbate affordability problems. Sub-standard local infrastructure can also sow the seeds of community discontent over more development, because people fear new housing will mean increased traffic congestion and eroding amenity in their local neighbourhoods.

Property tax reform is gathering momentum. The NSW government recently published a progress paper providing more detail about its reform intentions including the results of its public consultation process. The next step for NSW is to assess feedback on the progress paper and provide an update later in the year. It now joins the ACT as the only two jurisdictions in Australia intent on replacing transfer (stamp) duty with land tax.

The research analyses the demand and supply-driven components of building material cost inflation and is based on data to 30 June 2022.

This research report by NHFIC - COVID-19: Australia's population and housing demand – found that the global pandemic could cut underlying dwelling demand in Australia by between 129,000 and 232,000 from 2020 to 2023, mainly due to the downturn in net overseas migration (NOM). International border closures have effectively shut down NOM, which has accounted for 59 per cent of population growth since 2007.

This first research report by NHFIC - Building jobs: How residential construction drives the economy – looks at the important role the residential construction industry plays in generating jobs and growth across the Australian economy.

The residential building construction industry generates more activity across Australia than nearly every other industry, with each $1 million of economic output supporting nine jobs across the economy.

DECEMBER 2021 - LORENZ CURVE ANALYSIS

Housing affordability refers to the ability of a household to meet its housing costs, such as servicing a mortgage or renting, without compromising other needs.