A report paints a grim picture of Australia’s plans for 1.2 million new homes by 2029 and warns the unaffordable and undersupplied market is not going to improve anytime soon.
The National Housing Supply and Affordability Council tabled its report into the country’s housing system which predicts that Australia will miss its dwelling quotas by 300,000.
Council Chair Susan Lloyd-Hurwitz said Australia’s housing system was in trouble and the gap between homeowners and those looking to get on the ladder was only increasing.
“There are 170,000 on wait lists for public housing, another 122,000 people experiencing homelessness, and very significant housing stress particularly for vulnerable cohorts of the community is simply unacceptable for a country with the resources of Australia,” she said.
