Market/Finance News: Federal government red tape agenda praised by HIA

By the resi financial blog team, 20 March 2014

Red tape removed from property process in Australia

The Housing Industry Association (HIA) has commented on the progress of the federal government's red tape reduction agenda, stating the moves would help make the $70 billion home building sector across Australia far stronger than it currently is. 

This could be interesting to anyone interested in taking out a construction home loan in the near future, as these changes could work towards helping people save both time and money on their overall building experience. 

HIA Chief Executive of Industry Policy and Media Graham Wolfe said the "inefficient and unnecessary regulation" of the industry was adding unnecessary complications to the process. With the amount of time and money being spent on superfluous activities, there are clearly areas that could benefit form some changes. 

"The allocation of parliamentary sitting time to freeing up builders and the economy by reducing laws, rather than introducing new ones, shows a genuine commitment by government to addressing this chronic problem," said Mr Wolfe in a March 18 statement. 

For example, getting rid of imposing administrative and accounting red tape could go a long way to helping streamline the construction process. After all, it isn't uncommon for bureaucracy to underestimate how time consuming tasks like compliance can be. 

Homogenising some of the processes and making them applicable across a number of avenues and portfolios, as well as reducing the amount of government burden put on small businesses, could have a major effect on the growth of the building industry as a whole. 

These changes could be exciting for anyone looking into their construction options in the future. Now could be a great time secure a great home loan to fund the process and get started on the intial plans for your dream home.

Categories: Home Loans