Swan calls for more homes to ensure economic stability
October 26, 2009
Treasurer Wayne Swan has echoed the calls of the Reserve Bank in saying that the stability of the housing sector will be dependant on growth in the supply of housing.
Speaking after meeting state and territory treasurers in Canberra on Friday, Mr Swan noted that the nation’s home building was still lagging the population growth, causing supply-demand imbalances that could lead to an unsustainable price surge in the years ahead if left unattended.
“The Commonwealth has this view that we have got to get ahead of the curve here,” he told reporters. “We have not been building enough houses. We do have strong population growth so it will be very important we move through to economic recovery to ensure that we don’t have capacity constraints that flow from a shortage of housing.”
“That is why we put significant resources into social housing as part of our stimulus plan, not just to create jobs for now, not just to support small business for now but also to leave a lasting legacy of more affordable housing.”