Meriton boss on how to solve Australia’s housing crisis: ‘The higher we build, the better’

For a man who has made billions off developing high-rise blocks, it’s no surprise when Harry Triguboff says “the higher we build, the better it is”.

The 91-year-old sat down with 7NEWS, detailing how he believes the housing crisis could be solved.

“You can’t use today’s ways and expect things to improve,” he said.

“They don’t improve by themselves.”

The Meriton boss doesn’t hold back, particularly when it comes to councils and his stance on rewarding bureaucrats for approving more development applications.

“I think they should be given bonuses, and the politicians should be kept out of approving new developments.” Triguboff says.

When asked if it would lead to corruption, he fears “there might be corruption that nothing is built already”.

He was raised in China, moved to Australia and changed our country’s urban landscape by building apartments.

Triguboff has called for the Reserve Bank to lower interest rates for some time - to help with affordability challenges and construction costs.

“We have to have people that can lead, not just follow the book… I’m blaming the big bosses of the country.

“They have to lead, and they have to give instructions. I don’t see them giving instructions. They are just following the safe path. It doesn’t work.”

He says Canberra must boost immigration to help with building.

“Everything has to be in proportion. We have one of the biggest blocks of land in the world, and we have no people.”

On Peter Dutton’s pledge for $5 billion dollars to build half a million homes, he says: “We need much more than that, but it’s nice that he thinks about it, and pledges are very nice.”

Urging Anthony Albanese to have a more hands-on approach to housing, he says: “He has good intentions, but intention is not enough. He has to get involved and see why it’s not progressing.”

Harry Triguboff agrees with a Minns government push for units around Sydney transport but says blocks could be higher.

“High rise is 50 floors. They’re talking five floors.”

Triguboff says the taller the tower, the less need there is for infrastructure such as cabling, electricity and roads as all amenities would be nearby.

“If you have cottages you’re spread. (Residents) have to travel further.”

His biography, High-Rise Harry has just been released., and his hope for Australia is just as high as the buildings he wants to build.

“We have all the reasons to succeed… so I think it will improve.”