The appointment of a Building and Development Industry Taskforce, which the HIA has been appointed to, is an important step for Victoria’s economy both during and after COVID-19.

“We look forward to working with the government to keep the state’s residential building industry open for business during this time,” HIA’s Victorian executive director Fiona Nield says.

“The residential building industry can assist the Government to sustain employment, productivity and the Victorian economy during the current conditions.”

Fiona mentions that the housing industry has helped keep the economy on track following past economic crises with the assistance of programs that support housing supply and generate demand.

“The expected decline in housing starts needs to be addressed now to limit a range of negative economic consequences that would flow from reduced housing supply should the situation be prolonged,” she says.

“HIA has been advocating for the government to provide support to home buyers and the housing industry during this difficult time. Given the economic conditions, new home buyers, and in particular first home buyers, need measured support to have confidence they can buy a new home.

“The work of this taskforce will be critical in the coming months to stabilising home building activity in Melbourne and regional Victoria.”

The COVID-19 pandemic has only helped to reinforce the ability of the residential building industry to keep operating whilst under social distancing and other limitations.

“Together with our members, HIA already has put forward to the Taskforce a number of practical and implementable initiatives and the Government has supported many of these already,” Fiona explains.

“There are a number of other initiatives around expanded home buyer grants, taxation relief, planning and building regulatory reforms that also deserve consideration at this time.

“HIA has been working closely with our members to understand the impacts of COVID-19 on housing supply and we have been providing timely and measured advice to the Government throughout the crisis.

“HIA looks forward to our ongoing involvement with the taskforce and working with the government to deliver tangible outcomes that keep the Victorian residential building industry moving and protect Victorian jobs.”