NHFIC's second State of the Nation's Housing report forecasts a 163,400-home shortfall between 2025 and 2032 as migration recovers. UDIA national president Maxwell Shifman says affordability problems reflect a failure to plan for growth and warns chronic shortages will worsen unless supply is primed now.
As I told Australian Property Journal: “The total demand for new and existing housing still outstripped total supply in the market, the increase in housing prices continued unabated and the NHFIC report data confirms that this is likely to only get worse.”
I also said: “Housing affordability issues are not a problem of increased population but simply the symptom of failing to plan for growth.”
And I added: “The lag time in developing new housing supply means that, unless the housing market is primed now with strategies to stimulate supply to match demand, we will see increasingly chronic affordability issues across the Australian housing spectrum”
Australian Property Journal, 25 February 2022 — Read the full article