The union movement welcomes today’s announcement of the Housing Accord, the first meaningful action by a Federal Government in many years aimed at addressing the housing supply shortfall. 

Too many Australians are locked out of the housing and rental markets as a result of house prices and rents outpacing wages for a generation. The injection of more affordable housing into the market will be a great step to alleviating the upward pressure on house prices and increasing the supply of affordable rental property.

By bringing superannuation funds and all levels of Government together to tackle the problem, the Housing Accord will increase investment in affordable housing stock while providing strong returns for workers’ retirement savings.

This additional investment has the further opportunity to provide a long pipeline of good, secure jobs for working people in construction and its supply chain.

Quotes attributable to ACTU Assistant Secretary Scott Connolly:

“Too many workers are locked out of the housing and rental markets due to rapidly rising house prices and persistently high rent. The Housing Accord provides an opportunity for more working people to buy their own home and find affordable rental accommodation.

“House price and rent increases have outpaced wages for a generation and more workers are in insecure housing than ever before. Australians have lost a decade waiting for the previous Government to increase investment in affordable housing, which coincided with a decade of wage stagnation. The Housing Accord is the kind of action we need now, more than ever.  

“The union movement has long believed in the capacity of industry super funds as investors to use capital both in the national interest and in workers’ interests to create jobs and a secure retirement, and the Housing Accord is a fantastic demonstration of this ability.

“The union movement looks forward to working with investors and employers to ensure this pipeline of investment provides good, secure and safe jobs for working people in construction and its supply chain.”