- July 8, 2013
- Posted by: admin
- Category: Enconomy, Finance News, Financial goals, House prices, Inflation, Rental Growth, Wealth
Australia needs to build a further 1.3 million homes by 2020 to meet current population projections, according to research conducted by the Housing Industry Association (HIA).
If Australia sticks to its current rate of building, the nation will fall 150,000 homes short of its goal.
Failure at all levels of government over a number of years to address the fundamental constraints to housing supply has seen residential construction experiencing its longest trend decline in post-war history.
However, there are policy solutions. Greater competition in the finance sector and a close look at unlocking superannuation for housing are just two examples that were canvassed at the recent HIA Building Better Cities Summit.
The housing industry would welcome a debate on federal-state incentives aimed at achieving housing supply targets.