Building industry is moving as fast as the market allows. Most customers want things built yesterday and the progression is hampered more due to weather and supply of product, two things not in our scope of control.
The building industry may move as fast as the current market allows but if the market is restricted because land is hoarded then the building industry will be the correct size to build at the currently required rate. If more demand is created then more builders will come into being to build more houses!
How many freehold blocks now are just subdivided and sold off direct to the public? It doesn’t happen, the developers get all the land and trickle feed it into the market in stages as slow as they can get away with.
And what benefit does one give?
-to shelter vehicles from the weather
-to have somewhere to store things from the weather
-any future buyer will probably have some use for it and see one as a beneficial feature.
Compare that to the ~$10k you will spend in holding your VF2 Redline Motorsport Benz over 5 years for no benefit when it comes time to sell the "investment" and the smart money isnt in the car.
You just made my specific argument for me! Cheers!
Like I said, everything else in life is deemed as a “cost” and anything involving housing is an “investment“.
When this is the newspeak environment we live in any money spent on housing isn’t hardly enough (because it’s an investment) and everything else is a disaster if the price inflates by more than 3% per year and the RBA pulls out the interest rate stick.
If we're currently building about 2000 homes a week (110,000/year )nationally and need to nearly double that figure to meet the 2029 target and the construction industry currently employs 1.2 million people, let's be generous and say we need an extra 400,000 people to get us to our target.
That's 400,000 individuals or families who aren't all going to want to share into your "average 2.6/home figure" your idea requires enough homes to tie up the entire expanded construction industry for over 2 years.
We’ve imported more than 400,000 people just in the past year because Labor are just as beholden to the big Australia policy as the LNP is.
They both pull the swiftly of importing heaps of people so we never have a technical recession but we have a per capita recession and most voters are too stupid to understand the trick that is being played.
