CBA NSW Development Summit
Swoopland extend our heartfelt thanks to the NSW Building Association for their efforts and invitation. It was an honor to attend the 2024 Development Summit alongside NSW Building Commissioner David Chandler, Shadow Minister for Building Tim James, and 100+ local developers to discuss the challenges and opportunities facing the industry.
Starting July 1, Prime Minister Anthony Albanese’s National Housing Accord officially commenced, promising to deliver 1.2 million new homes over five years. Coupled with the government’s $32 billion Housing Reform Plan, this initiative comes at a critical time as housing construction slows, immigration surges, rents skyrocket, vacancy rates drop to a historic low of 1%, and property prices soar. With voter discontent growing, addressing housing shortages, prolonged development cycles, and construction labor shortages has become an urgent priority for both the government and the Australian public.
Key Industry Solutions Discussed at the Summit:
- Reducing Infrastructure Levies to lower development costs.
- Attracting Young Workers to the construction sector to combat severe labor shortages.
- Streamlining Development Approval Processes to accelerate project timelines.
- NSW Government’s Transit-Oriented Development (TOD) Program, aimed at increasing land density around public transport hubs to boost housing supply.
The summit highlighted innovative pathways to tackle pressing issues in the housing sector and drive long-term solutions.
