Budget reply 2024: Peter Dutton’s housing fix must not block foreign tradies, developers warn

Already a subscriber?Construction industry leaders say reducing immigration as proposed by Opposition Leader Peter Dutton would choke off a potential source of the single biggest resource needed to fix the housing shortage: skilled workers.migrants were needed to increase the rate at which homes were being completed to meet demand. He said the industry had enough machinery and materials but not enough workers.

“While I agree we should limit foreign ownership of established homes, we actually need to incentivise foreign purchasers back into the off-the-plan market to kick-start the supply of new homes.“This, alongside reducing the cost of finance to help fund new builds, is the only lever we can pull in order to bring us out of this crisis long term.”Rory Costelloe, executive director at Villawood Properties, backed reducing migration but agreed more skilled workers were needed.

Mr Dutton said the Coalition, if elected, would “ensure there are enough skilled and temporary skilled visas for those with building and construction skills”. It was not clear if construction workers would be exempt from the proposed immigration cut.

“It’s a headline-grabbing policy rather than something that addresses the real need of increasing housing,” Mr Perilli said.

Source: Financial Digest (financialdigest.net)

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