Forest & Wood Products Australia (FWPA) has released a new report, “Housing for the Future and the Contribution of the Timber Industry“as part of its Statistics and Economics Program and recent webinar series to increase understanding of the timber industry’s market potential. Source: Timberbiz
FWPA is dedicated to providing the forest and wood products industry with insightful and timely analysis; hence the webinar series and summary report feature contributions from leading experts in the fields of economics, demography, and urban planning, highlighting the collaborative efforts needed to address the ongoing housing challenges in Australia.
The report is designed as an overview and discussion starting point for the challenges and opportunities of housing through the lens of the forest and timber industry and its diverse stakeholders.
Housing affordability worsened in 2023 when interest rates rose, on average, by 125 basis points. This rise affected many Australians, including mortgage holders, first-home buyers, renters, and builders.
Now, as housing demand continues to rise amid a supply shortage, this new report and associated webinar series outline key discussion points around how the timber industry can play a pivotal role in supporting the government targets for new housing construction.
The National Housing Accord aims to build 1.2 million homes over the next five years, and the forest and wood products industry is well-positioned to contribute through innovative construction methods and sustainable practices.
“The timber industry is known for its association with housing construction. Recent data on ABS building activities and FWPA timber sales volume showed that there was a linear relationship between dwelling approval and sales of timber products.” said FWPA Statistics and Economics Program Manager, Erick Hansnata.
The FWPA webinar series and summary report dive into housing issues from the perspectives of the property market, demography, the timber industry, and relevant associations.
“The forest and wood products industry has the capacity to help meet targets through innovation and improved approaches to constructing detached houses, units, and low- and mid-rise residences that all store carbon. Applying best practices of modern construction methods, as well as expanded use of sawn timber and engineered wood products are just some of the opportunities our sector can provide for sustainable residential projects.”
You can download the report here.
