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top suburbs

12 month growth
Box Hill
127.02%
Mollymook
82.85%
Brightwaters
79.93%
Cleve
78.13%
Bawley Point
76.2%
Murrays Beach
75.57%
Terranora
70%
Crescent Head
69.38%
Park Ridge South
68.32%
Mollymook Beach
67.09%
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More houses needed: HIA

By Staff Reporter
21 September 2009 | 1 minute read

The Australian housing industry will have to boost its production rate by more than 70,000 new homes a year in order to keep up with the country’s projected population boom.

Last week the Federal Treasury revised Australia’s population from 28.5 million to 35 million by mid-century.

The Housing Industry Association’s deputy managing director Shane Goodwin said Australia has a massive gap between the supply of dwellings and the underlying demand for dwellings.

“The gap is set to widen further with obvious consequences for house prices, rents and affordability,” Mr Goodwin said.

“Not only will there be a greatly increased demand for accommodation, Australia is faced with further strains on urban infrastructure, health and education to meet expected increases in population.

“Much of the responsibility for the funding and delivery of services in these areas falls on state and territory governments, which will face additional budgetary pressure to accommodate the extra population.”

More houses needed: HIA
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Do you have an industry update?

top suburbs

12 month growth
Box Hill
127.02%
Mollymook
82.85%
Brightwaters
79.93%
Cleve
78.13%
Bawley Point
76.2%
Murrays Beach
75.57%
Terranora
70%
Crescent Head
69.38%
Park Ridge South
68.32%
Mollymook Beach
67.09%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
Subscribe to Newsletter

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Enter your email to receive the latest real estate advice and tools to help you sell.