Housing and development industry leaders have signalled cautious optimism to Prime Minister Anthony Albanese’s $3.5 billion plan to fix Australia’s housing crisis.

Many have questioned whether there is enough skilled labour and planning reform and to achieve the aims outlined by the PM yesterday to create 200,000 new homes across Australia over five years from mid-2024.

Chris Ferris, co-founder and CEO of Coposit, which offers a savings plan for first home buyers and investors to enable them to get into the market without providing 10 per cent deposits, believes the planning reforms will be a game changer for developers and property investors alike.

“It’s time for government at all levels to look at long term solutions to fix not only the housing supply problem, but more importantly home ownership deficiencies and affordability which is now out of reach of many Australians, particularly young Australians,” said Mr Ferris.

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