Meriton founder Harry Triguboff says Australia’s housing market has shown signs of improvement in recent weeks and argues that lower building costs are needed to encourage more home construction and investment.
The veteran property developer said government charges, taxes and compliance costs were making projects less viable for builders and investors, contributing to weaker housing production and pressure across the sector.
The comments come as governments across Australia continue to focus on increasing housing supply and improving affordability, while the property sector faces ongoing pressure from construction costs, labour shortages and financing challenges.
Triguboff said market conditions had strengthened over the past three weeks and believed current conditions presented an opportunity for buyers.
He argued that high government charges, taxes and compliance costs were limiting new housing production by making projects less viable for builders and investors.
According to Triguboff, rising construction costs have contributed to fewer projects proceeding, reducing activity across the housing sector and affecting builders, lenders and government revenue.
His comments reflect a broader debate within the property industry about the balance between housing quality standards, planning requirements and the cost of delivering new homes.
Triguboff said Australia should be producing more housing and warned that excessive costs could discourage both construction and investment.
He also argued that improving housing supply requires a stronger market in which buyers are active and developers can earn reasonable returns.
The comments come as governments pursue ambitious housing targets, including measures aimed at increasing new home construction over coming years.
Triguboff said many builders had struggled financially in recent years and warned that reduced construction activity could place further pressure on rental supply.
Housing economists generally agree that higher construction costs can affect the number of new homes built, although they also point to other factors including interest rates, planning processes, labour availability, infrastructure constraints and land supply.
Triguboff also expressed support for migration, arguing that migrants who work, invest and establish businesses contribute to economic growth and housing demand.
He said migrants had long played an important role in Australia’s property market and broader economy.
Triguboff criticised the view that falling housing prices are necessarily positive, arguing that weaker market conditions can reduce investment, lower construction activity and limit housing supply.
His comments add to the continuing debate over how Australia can increase housing production while maintaining affordability, quality standards and a sustainable construction industry.
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