Australia will be 150,000 homes short of its 2020 target of building 1.3 million homes to meet current population projections, according to the Housing Industry Association's (HIA) chief executive Graham Wolfe.
“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," he said.
These could be addressed through policy solutions including greater competition in the finance sector and a close look at unlocking superranuation for housing
Mr Wilde's comments follow the HIA's annual Building Better Cities Summit held last week at the Sofitel Sydney Wentworth.
The conference brought together many local and international speakers, who addressed the housing challenge Australia would face over the coming decades and the consequences if demand was not met.
The keynote speaker was shadow treasuer Joe Hockey, who gave an overview of the Coalition’s approach to housing and the broader economy and raised the proposal for a federal government to provide incentives to state governments that met housing targets.
Mr Wolfe said the housing industry would welcome a debate on federal state incentives aimed at achieving housing target supplies.
“Today was a very important step in recognising the problems facing housing in Australia,” he said.
“The challenge now for governments, the industry and the community is to build on what we have heard and implement policies in response.”