In recent years of the coronavirus pandemic, many Australians have been thinking about buying a new home, which has put the already buoyant housing market in motion. House prices have increased at a record rate, not least because of the rise in prices of building materials. In turn, the Australian federal government intends to solve the problem of expensive building materials by reducing the price of timber. It is reported on 21 February by TV channel Nine News.
Thus, the Prime Minister of Australia, Scott Morrison announced that the timber industry in Australia will receive government support in the amount of 86 million dollars. Morrison said the $86 million, equivalent to planting 150 million trees, would help ease pressure on timber prices and ultimately help the housing industry.
Journalists also write that the federal cabinet chief will travel to Tasmania on 21 February. He will meet local business leaders and voluntary sector representatives as part of a yet-to-be-announced campaign.