Skills shortage top priority for Albo, say conveyancers

CONVEYANCING industry leaders say the skills shortage is the most pressing issue for the new Albanese government.

Reform of stamp duty and ways of incentivising builders are also high on the list of priorities of the chief executives of the Australian Institute of Conveyancers for New South Wales and WA.

“This massive target that the feds have in the National Housing Accord of 1.2 million homes built before 2029 is all well and good,” Brook Durling, CEO of AICWA tells Australian Conveyancer magazine. 

“But unless you are addressing builder shortages; builder collapses – with a number of them going into administration; and the build quality, it’s all exciting but it could just serve to create problems.

“I think big investment in skilled migration and training pipelines are what’s definitely needed,” 

Chris Tyler, CEO of the AICNSW says his state is also experiencing an “enormous skills shortage” which needs addressing to have any hope of meeting the Housing Accord’s objectives.

“Part of the problem in NSW is the government has been on this huge infrastructure splurge wanting to keep the economy vibrant and developed for the future but that’s dragging our limited number of skilled workers onto higher paid jobs of infrastructure,” Tyler says. 

“The tradies are taking the jobs that will pay them the most and that means it’s diverting the skills away from the domestic market and people are waiting years to find a builder for their houses.”

Meanwhile Tyler and Durling both agree the Federal Government should work to incentivise state governments to reform stamp duty to make it easier for first home buyers and for downsizers.

“It would be great if the Federal Government could help facilitate a streamlined approval process for property transactions through local government,” says Tyler.

“A quick-to-enter package for first home buyers which includes a shared equity, some funding from the Federal government, some stamp duty dispensation to help the buyers into the market.

“And then we get back to the problem of skilled labour shortages, you need to have the trades available and the ability to get it out of the ground.”

Durling says, given the booming market in the West, the Western Australian government has “made a motza” from stamp duty in the past five years but it is time for change.

“We agree with REIWA (the Real Estate Institute of Western Australia) around stamp duty and that it’s an option to be reformed,” he says.

“Whether there is a way that the Feds could incentivise the states to reform stamp duty that could help make a big difference to the transaction and the cost of entry, especially for the first home buyers and even your downsizers.

“In terms of focus for me, it’s how you can tie in federal funding to state level performance on housing approvals and completions? How can the feds incentivise the states to deliver better outcomes?”

And what about conveyancers? How can the newly formed second term Albanese Government help them? Ask Brook Durling and it’s all about compliance, as the looming Tranche 2 of the Anti Money Laundering Act comes into play mid next year.

“If government is going to inflict more compliance on small conveyancing businesses it needs to be thought out and streamlined,” he says, “so as they are not so overly burdened with compliance measures that they can’t find the time to do their jobs.”