Australian developers are putting a huge price tag on the National Property Institute
Australian developers want to build homes in places where they can sell to the highest bidder and are building a model for the United States that could be adopted elsewhere in the world.
Key points:The National Property Council (NPC) is looking at the best way to get buyers into the housing marketThe group says the best approach is to build on existing housing stockThe council says it will publish its report on ThursdayNational Property Council chairman Michael Boulton said the organisation was looking at ways to get Australian buyers into housing markets where they could sell to a buyer who has the resources to buy a property for more than the current market value.
“The biggest opportunity for that is where there is an existing housing supply, that is, in cities,” Mr Boulston said.
“So that’s where you have a market already there.”
While it is not illegal to buy land for $400,000, the National Lottery is not allowed to do so.
Mr Boulson said the NRL was also looking at how the government could encourage developers to build houses in areas where they were not currently allowed.
“We think we can take some steps to encourage that,” he said.
The National Lotteries have a rule that prohibits developers from building homes in areas that they do not own.
Mr Farrar said he would not consider any government regulation that would allow the construction of homes in a country where developers were already allowed to build.
“It’s all about finding a balance between the public interest and the public health,” he told ABC Radio Melbourne’s Today program.
“I think the public benefit is that we’ve got the potential to build housing in a place where we already have a lot of housing stock.”
The National Council for Home Builders has also launched an online survey on how developers can increase their chances of securing a building licence.
“In the short term, we want to get the most active developers in to the housing markets,” Mr Farram said.
He said the NSW government had proposed building houses in Sydney’s outer suburbs to give the area an edge.
“They want to make Sydney a very attractive place to live,” Mr Karr said.
“It is the reason why we are having a discussion about how to do this.
We are seeing it in other states.
There are so many opportunities for developers.”