Federal budget 2023: What it means for the housing market
The Federal government’s decision to spend $100 million on the first review of the Murray Basin Plan is likely to have an impact on the Murrumbidgee area and its communities.
The review will assess the effectiveness of the plan in achieving its objectives, consider any changes needed to the plan, and examine the allocation and management of water resources in the basin. The Murrumbidgee area is one of the major catchments within the Murray-Darling Basin, and therefore, any changes to the plan resulting from the review may affect the allocation and management of water resources in this area.
The Murrumbidgee area is a key agricultural region, and the availability and management of water resources are critical to the success of agricultural activities in the area. Changes to the Murray Basin Plan resulting from the review may affect the availability and allocation of water resources in the Murrumbidgee area, and therefore, have an impact on the agricultural industry and the wider community in the region.
In the Housing market, advancing the build-to-rent sector could potentially provide more rental properties in the market, which may help to address the shortage of affordable housing options.
Short-term 9,000 Local households will benefit from the rental assistance.
Overall, it’s important to have a balanced approach to housing policies that takes into account the needs of different stakeholders, including small-scale investors, renters, and homeowners.
-Tony Santolin
Source: realestate.com.au – Eleanor Creagh, Senior Economist
