There’s been a lot promised by our two major parties this election, and with housing and the cost of living dominating conversations in recent years, it’s not surprising they have been addressed in various proposals from both sides of politics.
SA’s property industry figureheads – Master Builders Association SA’s Will Frogley, the Housing Institute of Australia SA’s executive director Stephen Knight and the Real Estate Institute of South Australia’s Andrea Heading – have weighed in on the housing-related election pledges of our two major parties.
And their feedback is honestly a mixed bag.
Let’s kick off first with what’s on offer:
South Australian Premier Peter Malinauskas. Picture: Kelly Barnes
Labor’s key housing pledges:
* $1bn to fast-track housing.
* $70m in stamp duty abolition for downsizers
* $413.5m in 2000 rent-to-own homes
* $29m to get 1000 new tradies to build homes
* $140m for 200 supported accommodation homes and to renovate 300 vacant Housing Trust homes
* Expansion of HomeStart’s low-deposit home loans
* $3.6m for a portable rental bonds scheme
* Establish the SA Gas and Water Trust, a new entity to de-corporatise SA Water and expand its remit
SA Liberal leader Ashton Hurn. Picture: Kelly Barnes
Key Liberal’s key housing pledges:
* $480m in stamp duty concessions for first-home buyers on existing homes valued at up to $1m
* $46m to incentivise downsizers
* $10m to get mature apprentices into the workforce
* $43m in other apprenticeship initiatives
* $80m to cut payroll tax for apprentices
* $40m build better fund
* $6m in mortgage waiver fees
So, do these go far enough? Are they what’s needed? And do our industry figureheads have any faith these promises will actually be fulfilled.
Here’s what they said:
HIA – Stephen Knight
Stephen Knight. Picture: Supplied
What would you like to see for the housing/building industry come out of this election?
All parties are clear that providing more homes is our key priority and have made significant promises. Whoever is elected need to deliver on them asap. What we have learnt in the past few years is that just making announcement doesn’t necessarily cut it. Fast timeframes need to be part of the promises and in the main government getting out of the way is the best facilitator.
Are there any promises being put forward you’re particularly excited by?
The Labor Party’s Rent to Own commitment was always going to be a no-brainer. The pilot scheme was heavily oversubscribed. So this initiative that allows long-term renters to rent a new home at a discounted rate for two years and then purchase at the price when they moved in is a game changer for so many people. Getting as many people as possible into home ownership has to be our objective.
Liberal’s $10,000 sign-on incentive for mature age apprentices is also a great idea, workforce demand is going to out strip supply by a long way if we don’t do something about it.
Both Labor and Liberal have incentives for downsizers, which is a good thing.
Labor particularly have put a significant amount of stamp duty exemptions on the table, up to $100,000. Whereas Liberal’s is for a much lower amount.
Liberal’s promise to remove tax on apprentices is a good one particularly for small businesses who are the main employers. Lifting the threshold for payroll tax and exempting apprentices and trainees would be a significant boost to lifting apprentice numbers.
The HIA support incentives to help older South Australians ‘rightsize’ are welcomed.
Are there any that you don’t agree with or that don’t go far enough?
Labor have promised $1bn to fast track more homes but there is not a lot of detail around how that is going to happen other than through government purchase of land. Whatever methods they are considering to fast-track development needs to be available to private developers as well.
Liberal’s promise to abolish stamp duty on established homes for first home buyers up to $1 million has merit but with the rapid price escalation we are experiencing it looks like that figure should be greater.
First impressions might be that incentivising the purchasing of established homes doesn’t do anything for increasing housing supply but in fact is does. Increasing the sale of homes often leads to a new home being built for the vendors.
Are you confident that those who get elected will come through on those promises?
It will be up to people like me to hold them to account and, of course, whoever is in opposition. This is just too important an issue to let it just slip by.
The supply of homes, of all kinds, is fundamental to our states economic future.
Is there anything not being promised you’d like to see on the table?
New regulations over the last few years have created a real handbrake on builders delivering new builds and significant additional cost. There has been some comments around reducing red tape and holding back on new regulations. But I would really like to see real tangible commitments and assurances that any new regulation must demonstrate a net economic and housing affordability benefit before implementation.
The affordable housing and shared equity purchase threshold needs to be raised to $750,000 with annual indexation in line with medium house price growth.
MBA’s Will Frogley
Will Frogley. Photography by Kelly Barnes
What would you like to see for the housing/building industry come out of this election?
Downward pressure on housing affordability via boosting supply and decreased regulation, and policies that incentivise being an apprentice, and hiring an apprentice.
Are there any promises being put forward you’re particularly excited by?
Labor’s $29m housing skills package contains a number of policies we specifically called for, including designated SA Water and SA Housing Trust apprenticeship programs, support for mature-aged apprentices and subsidised training places.
We also really liked the Liberals’ strong support for Group Training Organisations (who employ thousands of apprentices), completion bonuses for mature-aged apprentices and payroll tax exemption for apprentices.
Both have doubled funding for the Born to Build program, a national leader in promoting careers in our industry. With government fees, taxes, charges and duties making up to 45 per cent of the cost of building a new home, it was great to see One Nation commit to cutting as much of this red and green tape as possible.
The MBA want incentives for mature-aged apprentices. Picture: Getty Images
Are there any that you don’t agree with or that don’t go far enough?
We don’t support the Greens policy for a state-owned builder. Sounds a lot like communism!
Are you confident that those who get elected will come through on those promises?
We have no reason not to be given their track record and our strong working relationships.
Is there anything not being promised you’d like to see on the table?
Increase annual dwelling completions through expedited Code Amendment pathways, blanket medium density low to mid-rise apartment approvals near transport/shopping hubs, and expanded targeted skilled migration via the Build Connect program.
REISA’s Andrea Heading
Andrea Heading. Supplied
What would you like to see for the housing/building industry come out of this election?
From REISA’s perspective, the most important outcome is a clear focus on increasing housing supply and improving the functioning of the property market.
Fundamentally we know that South Australia needs more homes across the board – more land released, more apartments and infill housing, and the infrastructure and workforce required to deliver them.
If we want to improve affordability and relieve pressure in the rental market, the answer ultimately comes back to building more homes and making it easier to deliver them.
We’d also like to see continued investment in the construction workforce, particularly apprenticeships and pathways into trades, because labour shortages obviously remain a real constraint on housing delivery.
Finally, policies that encourage movement in the housing market, such as sensible stamp duty settings and downsizing incentives, can help free up existing housing stock and improve access for buyers.
Are there any promises being put forward that you’re particularly excited by?
It’s encouraging to see that housing supply has become a major focus of the election, with both major parties recognising that increasing the number of homes available is critical.
Measures that support new housing development, apartment construction, workforce training, and planning efficiencies are particularly positive. Anything that helps unlock new housing supply or removes barriers to building is something the industry will welcome.
We’re also supportive of initiatives that help people move through the housing market more easily, such as downsizing incentives or programs that help first-home buyers access new housing.
REISA want to see the barriers to building removed. Source: Getty Images
Are there any promises you don’t agree with or that don’t go far enough?
The key issue for the industry is ensuring that policies actually increase the number of homes being built, rather than simply increasing demand for existing properties.
Buyer assistance can be helpful, but if it isn’t linked to new supply, it can sometimes place additional pressure on prices. The most effective housing policies are the ones that unlock more homes and speed up delivery.
It’s also important that rental reforms are balanced. Whilst we understand the need for tenant protection through stable housing, we also need to ensure that policies encourage private investment in rental housing, because the vast majority of rental homes are provided by private landlords.
Are you confident that those who get elected will deliver on these promises?
We understand that housing is a complex issue and there’s no single policy that will fix it overnight.
What’s important is that whichever party forms government continues to work closely with industry to remove barriers, streamline approvals, and support the workforce needed to build more homes.
REISA would like to see clear housing targets, measurable outcomes and regular reporting on progress so the community can see whether policies are actually delivering the homes South Australians need.
Ultimately, the industry stands ready to work with the next government to help ensure that the property market continues to operate fairly and efficiently for buyers, sellers, tenants and landlords.
Housing supply is rightly dominating the election discussion, but there’s also an important conversation to be had about the regulatory framework that governs our industry.
Is there anything not being promised you’d like to see on the table?
We’d like to see on the table a structured review of the Land and Business Sales and Conveyancing Act and its regulatory framework to ensure it reflects modern industry practice and contemporary consumer protections. The legislation that underpins the real estate profession needs to evolve with the market. A modernised framework would provide greater clarity for practitioners while strengthening protections for consumers.
Mandatory Continuing Professional Development (CPD) should also be considered as part of modernising the regulatory framework for the real estate profession. Ongoing professional education ensures agents remain up to date with legislative changes, evolving industry practices and consumer expectations. Introducing a structured CPD requirement would support higher professional standards across the sector and strengthen consumer confidence in real estate transactions.
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