Productivity Commission's draft 'Creating a more dynamic and resilient economy' report
Reducing the complexity and regulatory burden in Australia's homebuilding sector can, will, and must play a foundational role in improving the dynamism and resilience of our economy.
Summary
We recognise that the scope of this inquiry is tangential to solving Australiaʼs housing shortage; however, the scale and fundamental nature of the crisis means it is deeply intertwined with all aspects of Australiaʼs economy. As Jessy Wu, a former venture capital investor, recently put to the Australian Financial Review:
And crucially, we need to resolve the supply side of the housing crisis. When Australians have to dedicate vast portions of their income to housing, that capital isnʼt being deployed towards productive investments like starting businesses or backing start-ups. Far more than a super tax, median house
prices that are 10 times median incomes strangle entrepreneurial risk-taking
and investment.
Reducing the complexity and regulatory burden in Australia’s homebuilding sector can, will, and must play a foundational role in improving the dynamism and resilience of our economy.
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