Mid-Winter break freezes out Aussie families, jobs and hope

After months of work, the last sitting period was deeply active for PowerHousing Australia , our Members and the sector.

From ABC Radio National, OpEds, daily print editions, numerous national broadcast news including the three minute HAFF feature on the 7 Nightly news, to Minister Collins calling out PowerHousing first in House of Representatives Question time this week, our organisation alongside others have pushed hard in this sitting period.

The push prior to mid-winter break was aimed to see approval for up to 8,000 social and affordable homes for up to 25,000 desperately in need get across the line. Despite champion efforts, Australians have been effectively dumped in the cold for the next four months, with no new Housing Australia Future Fund homes enabled ahead of the mid-winter parliamentary break whilst Federal politicians who pushed back the legislation until mid-October are lucky enough to get to go back to the warmth of theirs.

The cold hard facts of the next four months:

• Inflation running over 6% is crippling household budgets;
• 800,000 fixed rate loans will switch to variable rates by the close of 2023, or approximately $350 billion in loans with over $1,200 extra required to be paid per property per month;
• Rental rises running at double figures for many Australians;
• Investor loans will pass on these additional interest payments further placing upward price pressure on housing;
• Net Overseas Migration forecast for FY2024 increasing since Federal Budget 2022 (230,000 estimate) to 400,000 NOM as of the May Federal Budget estimate.

With this as a backdrop we also have a building industry in its most fragile state possibly in our history:

• Builder insolvencies - Builder receiverships running at 6 businesses declaring insolvency a day;
• collapse in supply - ABS Building Approvals are heading to an annualised forecast for 2023 of 148,000 dwellings, this contrasts with 230,000 dwellings approved in the year to Sept 2021. Not every one of the 148,000 dwellings approved are built;

Every new home built provides 3 hours to 3 months work for 43 trades and subtrades - such a drop in the pipeline will see 43 periods of work x 80,000 dwellings not approved to be built - which is 3.44 million periods of work that will not take place in the next year. Thats a lot of people not building homes that could be!

Yet we can afford to freeze out housing for those that need it and jobs for an industry that needs support.

Champions of housing in this country need to be acknowledged and Minister Julie Collins , Senator Don Farrell and Prime Minister Anthony Albanese along with the ALP team need to be singled out for their HAFF policy and for ensuring the $2b Social Housing Accelerator starts to deliver at the State housing level.

Further support from Senator David Pocock , Tammy Tyrrell and many others including cross bench Senators and Zali Steggall OAM MP , Allegra Spender , Dai Le MP , Zali Steggall OAM MP , Rebekha Sharkie , Kate Chaney MP , Kylea (Pronounced Kylie) Tink , Dr Helen Haines , Zoe Daniel MP amongst other MPs is commended to tackle the uncertainty and pressure that will come over this next four months.

All State housing Ministers Colin Brooks , Guy Barnett MP , Meaghan Scanlon MP , Nick Champion , John Carey MLA , Rebecca Vassarotti , Selena Uibo and Rose Jackson in support of the HAFF is applauded.

There is appreciation for Max Chandler-Mather, Adam Bandt MP , and Sarah Hanson-Young , for helping secure further concessions and it is fair to say that the rental system is and will be unstable for many today. The more realistic target of $2.5b per year for social and affordable housing can also now be achievable by years 3-5 of the HAFF program. An annual HAFF floor now in place and debt/equity partnerships can secure that. The earlier $5b per annum for social and affordable housing is the right number, but this flowing into the building industry would have flooded and distorted the current fragile building eco-system like damming the Franklin River 40 years ago...but give it 5-10 years we can get to this quantum. The Senate including Mehreen Faruqi , Nick McKim , Janet Rice , Peter Whish-Wilson , Jordon Steele-John , Dorinda Cox (She/Her) , David Shoebridge , Barbara Pocock, and Larissa Waters are encouraged to get this legislation passed.

Like the Franklin Dams Federal election mandate and the High Court decision from 1 July 1983, almost forty years ago to the day which started an environmental movement we can be proud of, we have to start somewhere. We can do better.

#Everyriverstartswithonedrop #LettheHAFFriverflow