00:01We've had a situation on which we were not meeting the government's own Housing
00:06Accord targets, and despite their promises, they've put ongoing policy pressures on the
00:13industry that has meant that we are seeing a significant decline in investment in the
00:18industry, whether it is owner-occupier or by investors, and that was made worse with
00:25the federal budget, ongoing tax hikes, and that's even before you add in the trust changes
00:31that have been floated by the government in the budget.
00:34The viability of projects are already in peril across the country simply because people are
00:40not willing to pay the costs that have inflated as a consequence of these developments, and
00:46that will get worse, unfortunately.
00:48We forecast that as a consequence of the budget measures, and we're concerned that that's
00:53going to be even more so as we see declining improvements in the industry, particularly
01:00around labour supply, the cost of materials and the cost of doing business because of delays.
01:07This is simply unacceptable and totally contrary to the commitments the government made to
01:12us during the 2025 federal election.
