Today, Master Builders has released its pre-budget submission. The building and construction industry, employing over 1.3 million Australians and comprising 450,000 businesses, faces serious challenges. Productivity has halved over the past 30 years, and inflation in the sector remains stubbornly high. Despite its economic importance - every $1 invested generates $3...

The NSW Government is attempting to speed up housing construction with its new Housing Approval Reform Action Plan. This initiative is aimed at reducing red tape, streamlining approvals, and accelerating the delivery of essential infrastructure, including water and wastewater management, to get homes built faster.

Key points:

• The plan is...

Hansen Yuncken has announced the appointment of George Bardas as its new CEO, succeeding Peter Salveson, who is retiring after eight years in the role. Bardas brings over 20 years of experience in senior leadership within commercial construction and is expected to continue the company's growth and client-focused approach.
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The NSW Government has announced the designation of 11 housing proposals as State Significant Developments (SSD), aiming to create 6,400 new homes in well-located areas. This move follows recommendations from the newly established Housing Delivery Authority (HDA), which seeks to streamline planning processes and reduce delays.

Key Points:

• The HDA...

The federal government has announced a two-year ban on foreign buyers purchasing existing Australian homes, starting from April 1. The move, which mirrors a policy previously proposed by the Coalition, is aimed at addressing housing affordability concerns.

Key details:

• The ban applies to foreign investors, foreign-owned companies, and temporary residents...

The latest Productivity Commission report, Housing construction productivity: Can we fix it?, delivers a wake-up call to the residential construction sector. For years, builders have called for change, and now the numbers confirm it: we aren’t going to meet housing demand without improving productivity.

Over the past 30...

The Productivity Commission has highlighted that excessive red tape is severely impacting the home building sector, urging a complete review of the National Construction Code to boost productivity. According to the latest report, building times have increased significantly, with detached homes taking over 10 months to complete—up from just 6.4...

A new initiative aims to help first homebuyers save thousands and speed up their path to homeownership. The Property Council of Australia has proposed the First Home Buyer Accelerator Loan Scheme, which would:

• Lower deposit requirements for new homes to just 5%, cutting down the time it takes to save...

The federal government is attempting to make it easier for home buyers with HECS-HELP loans to secure a mortgage by relaxing rules on the treatment of student debts. This move aims to increase borrowing power, particularly for first home buyers.

Key points:

• Banks can now disregard HECS-HELP repayments when assessing...

The NSW Government has launched a dedicated Rental Taskforce to enforce new rental reforms aimed at holding landlords and real estate agents accountable. With an $8.4 million investment, the taskforce will focus on improving compliance in the rental market and tackling law violations.

Key priorities of the Rental Taskforce include...