Housing supply is restricted by councils, state government red tape etc not a lack of demand.
In South West Sydney where I am we have probably 10 developments on the go all releasing maybe 50 blocks of land every 6 months which are sold out within 1 minute of being on the market. We don't need any policies to stimulate demand for new developments we need to increase supply and reduce the time taken to get approvals etc turned around.
Buy a block in a greenfield development and you are waiting 12-18+ months for land to be registered, another 12 months or so for building, council approval etc afterwards. Most of the delays are with various councils (estates border multiple municipal councils) which all want to put their finger in the pie and mess it up.
Adding incentives for negative gearing of PPOR for new build is not going to increase supply.
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