The South Australian executive director of the Property Council told InDaily smarter incentives were needed to encourage the building of more homes as the state chases its targets.

His comments come after the release of new data commissioned by the Property Council which shows South Australia needs to build an extra 32,000 homes to meet the agreed target of 83,000 by FY2029.

The report also found building these additional homes would support $3.1 billion in direct gross value added to the state economy over the next five years as well as 4000 direct jobs.

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“The housing crisis requires a war-time-footing that involves the states examining tax and planning levers if we are to stabilise price and rental growth,” Djite told InDaily.

“That is why today we’re calling on the Malinauskas Government to commit to a South Australian Productivity Commission Review of the impact of taxes and charges on housing development given that 30 per cent of the cost of a new home is made up of statutory charges.”

Djite also called for the $3 billion New Homes Bonus program – a reward program for state and territories that build more homes than their share of the hosing target – to be doubled alongside a rework of its implementation.

Nationally, the Mandala Partners report found Australia was projected to be 462,000 homes short of the 1.2 million home target by 2029.

Property Council chief executive Mike Zorbas said supply efforts needed to be doubled.

“2025 is the year for Australia to redouble our housing supply efforts with the urgency and commitment this crisis demands,” Zorbas said.

“Missing the target by 462,000 new homes by July 2029 would set off a housing affordability time bomb. Thankfully, we can avoid this.

“Ideally, hitting the targets will make housing more accessible and more affordable for millions of Australians.”