Is Australia’s 1.2M Housing Target Attainable in the Next 5 Years?

As Australia grapples with the ambitious challenge of constructing 1.2 million new dwellings in the next five years, we aim to answer the pressing question: Is this target attainable?

We talk about the implications of this challenge, including the need to address housing pressure and determine suitable locations for new developments. Moreover, we discuss the potential impacts of immigration policies on housing demand and supply dynamics.

Today's guest is Peter Tulip, Chief Economist at the Centre for Independent Studies whose expertise in housing and monetary policies, coupled with his advocacy for high-density living, underscores his credibility as a leading voice in the field, earning him the distinction of Australia’s oldest YIMBY.

Join us in this episode as we dissect these complex issues and brainstorm innovative solutions. Don’t miss out on the opportunity to be a part of the conversation shaping Australia’s housing future and urban development.

Episode Highlights:

00:00 - Introduction

00:58 - Who is Peter Tulip?

01:31 - What is the goal of the National Cabinet's housing initiative?

07:18 - What are the challenges associated with this housing initiative?

12:41 - Peter's insights on the heritage aspect of rezoning

16:09 - Primary challenges faced by developers in densely populated urban areas

20:24 - How rezoning and redevelopment could potentially affect property values

27:17 - Peter’s thoughts on RBA's current stance on inflation

35:58 - Considerations to take into account in determining sustainable immigration levels

40:53 - Is reducing student immigration an effective strategy to alleviate housing pressure?

42:50 - Are there tax policies that can be leveraged to incentivise increased housing supply?

46:35 - What are the potential impacts of increased housing supply on property values?

50:07 - Is there a need for an upzoning tax to fund public services and infrastructure upgrades?

55:33 - Peter Tulip’s property dumbo

About Our Guest:

Peter Tulip has been Chief Economist at the Centre for Independent Studies since 2020. From 2011 to 2020 he was Senior Research Manager at the Reserve Bank of Australia. Before that he worked at the US Federal Reserve Board, the OECD and the Commonwealth Treasury. His research has been published in numerous international academic journals. His recent work focuses on Australian housing policy.  He has a PhD from the University of Pennsylvania.

Connect with Peter Tulip:

• Visit their website: www.cis.org.au/experts/research-scholars/peter-tulip
• Follow Peter on Twitter: https://twitter.com/peter_tulip
• Send an email to ptulip@cis.org.au

Resources:

• Visit our website https://www.theelephantintheroom.com.au
• If you have any questions or would like to be featured on our show, contact us at: The Elephant in the Room Property Podcast questions@theelephantintheroom.com.au
• Looking for a Sydney Buyers Agent? https://www.gooddeeds.com.au
• Work with Veronica: https://www.veronicamorgan.com.au
• Looking for a Mortgage Broker? https://www.blusk.au
• Work with Chris: hello@blusk.au

Enjoyed the podcast? Don't miss out on what's yet to come! Hit that subscription button, spread the word and join us for more insightful discussions in real estate. Your journey starts now!

• Subscribe on YouTube: https://www.youtube.com/@theelephantintheroom-podcast
• Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719
• Subscribe on Spotify: https://open.spotify.com/show/3Ge1626dgnmK0RyKPcXjP0?si=26cde394fa854765

See omnystudio.com/listener for privacy information.