State and Federal Governments have been marked with a massive “fail” in their half-hearted attempts to show they are really committed to increasing housing supply. Of course, the demand side issues of too high migration, and too lose lending are conveniently sidestepped, as big Australia and banks’ profits rule.
But according to a recent AFR piece, the supply of new homes will crash to the lowest level in over a decade by 2026, worsening housing and rental affordability, and leaving the federal government far short of its goal to build 1.2 million homes by mid-2029.
Across capital cities, 79,000 new homes will be finished in 2026, a drop of 26 per cent compared with last year due to planning bottlenecks, labour shortages and soaring material costs.
http://www.martinnorth.com/
Go to the Walk The World Universe at https://walktheworld.com.au/
Today’s post is brought to you by Ribbon Property Consultants.
