Is Australia’s 1.2M Housing Target Attainable in the Next 5 Years?

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The Elephant In The Room Property Podcast

Күн бұрын

As Australia grapples with the ambitious challenge of constructing 1.2 million new dwellings in the next five years, we aim to answer the pressing question: Is this target attainable?
We talk about the implications of this challenge, including the need to address housing pressure and determine suitable locations for new developments. Moreover, we discuss the potential impacts of immigration policies on housing demand and supply dynamics.
Today's guest is Peter Tulip, Chief Economist at the Centre for Independent Studies whose expertise in housing and monetary policies, coupled with his advocacy for high-density living, underscores his credibility as a leading voice in the field, earning him the distinction of Australia’s oldest YIMBY.
Join us in this episode as we dissect these complex issues and brainstorm innovative solutions. Don’t miss out on the opportunity to be a part of the conversation shaping Australia’s housing future and urban development.
Episode Highlights:
00:00 - Introduction
00:58 - Who is Peter Tulip?
01:31 - What is the goal of the National Cabinet's housing initiative?
07:18 - What are the challenges associated with this housing initiative?
12:41 - Peter's insights on the heritage aspect of rezoning
16:09 - Primary challenges faced by developers in densely populated urban areas
20:24 - How rezoning and redevelopment could potentially affect property values
27:17 - Peter’s thoughts on RBA's current stance on inflation
35:58 - Considerations to take into account in determining sustainable immigration levels
40:53 - Is reducing student immigration an effective strategy to alleviate housing pressure?
42:50 - Are there tax policies that can be leveraged to incentivise increased housing supply?
46:35 - What are the potential impacts of increased housing supply on property values?
50:07 - Is there a need for an upzoning tax to fund public services and infrastructure upgrades?
55:33 - Peter Tulip’s property dumbo
About Our Guest:
➫ Peter Tulip has been Chief Economist at the Centre for Independent Studies since 2020. From 2011 to 2020 he was Senior Research Manager at the Reserve Bank of Australia. Before that he worked at the US Federal Reserve Board, the OECD and the Commonwealth Treasury. His research has been published in numerous international academic journals. His recent work focuses on Australian housing policy. He has a PhD from the University of Pennsylvania.
Connect with Peter Tulip:
➫ Visit their website: www.cis.org.au/experts/research-scholars/peter-tulip
➫ Follow Peter on Twitter: / peter_tulip
➫ Send an email to ptulip@cis.org.au
Resources:
➫ Visit our website www.theelephantintheroom.com.au
➫ If you have any questions or would like to be featured on our show, contact us at: The Elephant in the Room Property Podcast questions@theelephantintheroom.com.au
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➫ Work with Veronica: www.veronicamorgan.com.au
➫ Looking for a Mortgage Broker? www.blusk.au
➫ Work with Chris: hello@blusk.au
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Пікірлер: 49

@grizbaseball 26 күн бұрын

Money is not meant to control people, rather it is meant to be put to work producing more money for you. You cannot build wealth without putting money in its rightful place.❤

@FannyMontage-xu8id 26 күн бұрын

People dont understand that the prices of things are never going back down. This inflation is deeper than we think. Those buying groceries are well aware that the real inflation is much over 10%. The increments dont match our income, yet certain investors still earn over $365,000 in stocks and assets. Wish I could accomplish that.

@icucmerc 26 күн бұрын

Very possible! especially at this moment. Profits can be made in many different ways, but such intricate transactions should only be handled by seasoned market professionals.

@MA-KEJointVenture 26 күн бұрын

Some persons think inves'tin is all about buying stocks; I think going into the stock market without a good experience is a big risk, that's why I'm lucky to have seen someone like mr Brian.

@ufuksenol2005 26 күн бұрын

Finding yourself a good broker is as same as finding a good wife, which you go less stress, you get just enough with so much little effort at things

@PineHosting 26 күн бұрын

Brian demonstrates an excellent understanding of market trends, making well informed decisions that leads to consistent profit

@scottfree993 27 күн бұрын

New Zealand was promised 100,000 new houses with Kiwi build a couple of elections ago, a year or 2 later it was knocked on the head with under 1,500 homes built, as far as Australia is concerned, 1.2 million houses appears to be "mission impossible" for the proposed time frame but I wish them luck.

@phoneticau 27 күн бұрын

Kiwi Build was a fizzer

@jg5032 28 күн бұрын

We can never build enough houses because the Federal Government will always increase immigration until the housing market breaks. Building more dwellings has never and will never solve housing affordability in Australia while this continues. Increasing construction is folly without first addressing the Federal Government's (and vested interests) addiction to immigration.

@user-lo3eu9it2b 27 күн бұрын

selling land to new comers has been the business since gold rush.

@detectiveofmoneypolitics 27 күн бұрын

Economic investigator Frank G Melbourne Australia is following this informative content cheers Frank 😊

@sugimoto2389 27 күн бұрын

The cost to downsize is a deterrent. Give away 2% to the agent to sell the house and then give away stamp duty to buy the next property. On a 1.5mil property and subsequent 1.2mil purchase that would be $70k in costs alone.

@amraceway 5 күн бұрын

Sydney needs more traffic.

@c.s2001 28 күн бұрын

Veronica and Chris, I like the guests you bring in ( for the most part)

@Stan_Send_it 24 күн бұрын

I second that

@marcoschena99 27 күн бұрын

I don't think the government will be able to reach that target, but as long as we try, that's the main thing. The government could just get the cheque book out and buy a few houses at auction in each suburb around Australia and then rent them to people on social welfare at a discounted rate. That will in effect put the construction of these 1.2m homes into the hands of the private market to get the job done. Also with the pension, include the home in the asset test for pensioners. That will encourage the oldies to downsize to get the pension, because at the moment people approaching retirement are upsizing to soak up all their cash so they get $45k a year from the tax payer. Disgusting.

@jackryan2135 22 күн бұрын

Compounding problem is the utter shoddy workmanship of the Australian construction industry.

@katanabuilding2579 9 күн бұрын

Inflation is a loop cost, it affects absolutely all costs of living and business and its mostly driven by energy costs which are in turn driven by the stupidity of the government. How can we then say its our responsibility to spend less when its largely determined by grubberment directions?

@johnoneill1011 27 күн бұрын

So Peter want sot get rid of the CGT discount for long held property and apply it to owner occupied property as well as investment property. Good luck getting that implemented. It's grossly unfair to tax sellers on the entire capital gain in the tax year in which the property is sold, though that gain may have been accumulated over many years, often over decades. The current policy pushes sellers into the top tax bracket, muting the benefits of the CGT discount.

@leonie563 27 күн бұрын

Wow, Peter Tulip eh, thats a coup. Can't wait to hear what he has to say..

@leonie563 27 күн бұрын

Liking the sound of the:- ACT/Canberra Betterment Tax Otherwise known as the Christian Porter era Value Capture. Was in his seat when that dropped, in landlord country. Incredibly offensive they took greenfields cheap house&land packages opportunity off young families who could have enjoyed the new train/bus station, shopping centre, childcare centres. Instead they were left to rent it from such landlords while they chow on rent and depreciation. Rorting taxpayers.

@anthonycoyle2889 26 күн бұрын

So he's thinking that properties prices need to fall not what investors want to hear

@phoneticau 27 күн бұрын

Albo said so, so it will be a fact and you can bank that

@prancer4743 27 күн бұрын

Please don’t as a question that we or ready no the answer to 🤔😉😳👀😉😉

@vincentcacciola7161 27 күн бұрын

Most of these supposed houses will be nothing more than dog boxes, poor quality dog boxes at that. Good luck Straya

@ConstructionHoney 28 күн бұрын

@tyc00n 26 күн бұрын

chris looks rough

@Leo-vk6qm 27 күн бұрын

This guy is selective about what he supports. A land tax would help solve a lot of issues and capture revenue to pay for the programmes that seem to increase land value and see owners sell when the property could better serve the economy and society for other use. Negative gearing has completely distorted real estate values favouring investors, writing off a loss against tax has merit but it's unfortunately been built into the business model of real estate investing.