State of the Nation to look at role of governments in NT housing supply

The Territory’s housing supply will be under scrutiny when a leading economist hits Darwin next month. Read what’s planned.

With housing supply and market entry central to the Northern Territory and national election campaign, the Housing Industry Association will host its first ever State of the Nation event in Darwin to bring together stakeholders key to increased residential construction.

Treasurer Bill Yan will be keynote speaker ahead of delivering the NT Budget on May 13, along with HIA chief economist Tim Reardon

Mr Reardon, who has long been a fierce critic of too much government interference in the housing sector,

HIA Chief Economist Tim Reardon during the Housing Industry Association breakfast at the Brisbane Convention and Exhibition Centre. Picture: Tertius Pickard

will use the forum to make the case for less government intervention.

“Around about 10 per cent of all tax revenues raised in Australia are from taxes on housing and the more governments tax housing the fewer homes that are built,” Mr Reardon said.

“Governments like to blame foreigners or investors or foreign investors but they’re not the cause of the housing shortage in Australia.

“The cause of the problem is too much government involvement in homebuilding whether its direct taxes or delays in getting land and houses to market, they add to the cost and so we need less government involvement in the housing market, not more.”

HIA chief executive Luis Espinoza said Mr Reardon would contrast conditions in the NT with those in housing markets across the country.

“He’ll be comparing what’s happening here in the Northern Territory to the rest of Australia,” Mr Espinoza said.

“In the news you’ll find that the bigger cities are really struggling. They’re struggling with the cost of living, the cost of housing, the cost of building construction overall.

“Tim will be making a few comparisons and give us a bit of a guide into what’s ahead of us.”

State of the Nation is scheduled for midday, Thursday May 1, with RSVP by April 24. For details contact 1300 650 620 or [e-mail]

Originally published as State of the Nation to look at role of governments in NT housing supply