Ignore the housing industry at your peril, was the warning issued today to Australia's incoming Federal Government by the Housing Industry Association (HIA).
"Housing activity has been the standout performer in the Australian economy over the past three years," said HIA Chief Executive - Industry Policy and Media, Graham Wolfe. "Whether we measure its performance by output, taxes paid, job's growth or size, the residential building industry has provided the adrenalin shot sorely needed across the national economy.""But Government failure to support and promote strong and sustained new housing activity presents an unnecessarily high risk-consequence for Australia," warned Mr Wolfe.
"The residential building industry provides a job for over one million Australians, supports over 350,000 businesses, contributes over $160 billion to the Australian economy and builds new homes for more than 350,000 people, every year, to house Australia's growing population," said Mr Wolfe.
"Importantly, the industry hands over $77 billion in taxes to Australian governments. In fact, one dollar of every six dollars in taxes collected by all three levels of government comes through the residential building industry," stressed Mr Wolfe. "Governments at all levels receive a substantial proportion of their revenue from the industry, and if activity drops, so too does government revenue.""It time our political leaders contesting the 2016 Federal election acknowledged the linkages between strong housing activity and the benefits that flow through to our national economy, government revenue, housing affordability, jobs, and the community more broadly. It's time they committed their support for this industry and for the policies needed to deliver sustained new housing activity for the benefit of Australia and Australians."Housing Australians, HIA's Federal Election Policy Imperatives provides the blueprint for our national political leaders - a blueprint to develop and deliver a comprehensive and meaningful suite of goals, programs and action plans to promote strong and sustainable housing activity and new housing supply. HIA's election imperatives can be found at hia.com.au/election