Thursday, July 11, 2024

Australian Housing Crisis: Nation to fall more than 60,000 short of target in first year: HIA

Australian Housing Crisis: Nation to fall more than 60,000 short of target

Australia is on track to fall more than 60,000 new homes short of the 240,000 total needed in the first year of an ambitious new housing affordability crisis-busting program.

And a leading economist has warned to get the numbers up state governments will need to encourage foreign investors, reconsider property taxes and slash planning timelines.

The Housing Industry Association’s National Outlook released today forecasts just 178,839 new apartments, townhouses, units and houses will be built next year.

In 2025 the projections suggest only 195,105 homes will be added to the nation’s housing supply.

Read the original article at news.com.au