The inaugural report of the newly established independent housing forecasting body was released today by Housing Minister Dr Kim Hames.
In releasing the forecasts of the Housing Industry Forecasting Group (HIFG), Dr Hames said he was delighted that the State Government had been able to replace the former Indicative Planning Council for the Housing Industry (IPC), which was disbanded by the Commonwealth Government three years ago.
“It is essential that the Government has a broad view of housing needs, so that it is better able to balance the provision of affordable housing and land with the needs of the private sector,” the Minister said.
The HIFG reports to the Office of Housing Policy, which Dr Hames established in July last year to provide independent high level, policy advice to the Minister and the Ministry of Housing.
“Any improvements that can be made to the cyclical boom and bust merry-go-round by accurate forecasting assists both the housing industry and employment,” Dr Hames said.
“The forecasting group brings together the key organisations in private sector housing production under the chairmanship of Warwick Hemsley.
“This first and subsequent six-monthly reports will be important tools for the housing industry, bringing together data on construction, the real estate market and private rental market.
“The forecasting will do much to ease the uncertainty which has been caused by major taxation reforms, the depreciation of the Australian dollar and interest rate increases.”
Media contact: Sandy Gater, Minister’s office 9424 7455