Housing Affordability Research Paper

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Recommended: Demand and supply factors in housing affordability in australia

How Building Disputes Can Affect Housing Affordability Housing affordability for first home buyers (FHB) in Australia has been broadly declining since the early 1980s. The latest data point to a fragmented outlook for the residential building industry. Two contrasting sub-groups of homeowners exist in Australia: outright buyers and mortgaged home owners with the FHB dominating the latter. Housing prices have however, remained tight, suggesting a lack of pricing freedom by suppliers with only the subbies on the negotiating table. Building disputes in the construction industry vary from small misunderstandings to full-blown fallouts. Both of which are damaging and a downright waste of time and money. The FHB has better things to do with their time. Money Flow Disputes also contribute to the inflation of future building. The $7 billion problem in Australia represents the amount of money drained from its economy annually due to payment disputes, contract disputes, and lack of transparency. (This doesn't account for the lost time or emotional unrest) This $7 billion is about 3% of all construction work in Australia. For businesses to stay afloat, this cost passes to the …show more content…

Although a step in the right direction, it would be foolhardy to assume the supply of housing as the only factor affecting housing affordability. Getting your residential piece of land titled, and your design subsequently approved, for example, can take an upward of 12 months which is ridiculous. FHBs can't afford these costs whilst paying rent. They cannot afford disputes either and the Building Commission levies imposed on the FHB to pay for costs generated by the more affluent consumer is unfair. There are repeat complainers, and those that lodge a complaint at every progress claim. (the rationale being that the current $212 is cheaper than an independent building

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