Treasurer hosts housing investor meeting

Unlocking much-needed investment in housing will be on the agenda at an investor roundtable hosted by Treasurer Jim Chalmers.

The first of the treasurer’s roundtables with private sector representatives will focus on housing, and finding financing solutions to tackle Australia’s affordable housing crisis.

Labor’s national Housing Accord is designed to build a million new homes in five years from 2024, although Greens-commissioned Parliamentary Library analysis has found just two per cent of those homes would be affordable for low-income earners.

The attendees at Friday’s event in Sydney will include the big four banks’ CEOs and the head of Australia’s sovereign wealth fund, Raphael Arndt, while ACT chief minister Andrew Barr will represent the states and territories.

Dr Chalmers is keen to remove barriers stopping superannuation funds and major banks investing in housing.

He said the influential investors could help solve some of Australia’s major issues.

“We’ve identified a number of areas where we think Australians can benefit most from more targeted, institutional investment in our national priorities including housing supply and affordability, the energy transition, manufacturing and the digital economy,” he said.

“Starting with housing, we will work closer than ever before with leading investors, major banks, global asset managers and superannuation funds to promote stronger investment in these priority areas.”

Dr Chalmers said the partnership between investors and government could bring returns for both shareholders and the nation.

The roundtables will continue next year with a look at digitalisation and sustainable energy.