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ISCOVER
Staff Reporter
One industry figurehead has applauded the Reserve Bank for stating it was “likely to keep rates on hold” for the foreseeable future.
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“With all the talk of available housing being strained, natural disasters and commentary of Australian housing affordability being too high, it is good to see some positive news coming from the RBA,” Provident Capital head of lending distribution Steve Sampson said.
Mr Sampson said it was now time for the government to make some positive announcements and fix the current housing supply issue plaguing the nation.
He said the government need to take the shortage of housing development stock out of the “too hard” basket and make some tangible efforts to fast track the conversion of development stock to “tangible housing blocks”.
“The right time is now,” Mr Sampson said.
“Whilst governments across the board sit on their hands not addressing the increasing cost of developments, approval delays by council bodies and planners, property will become scarcer and subsequently even less affordable.”
