April 27, 2010

THE VIRTUOUS CYCLE OF IMMIGRATION:

Housing shortfall locking out thousands (George Megalogenis, 4/28/10, The Australian)

AUSTRALIA has 178,000 more potential home buyers than available properties, with Queensland and Western Australia accounting for almost half the total shortfall over the past decade, a government advisory body confirmed yesterday.

But NSW is the state having most trouble keeping up with demand, The Australian reports.

Slow planning processes and a sick building sector delivered barely one new house for every two new households that were prepared to buy last financial year.

The benchmark report by the National Housing Supply Council warns that the national housing supply gap will increase by 50,000 by June 30 next year, and the final figure may be much worse if one or more states fail to deliver on their modest targets.

On present trends, the total gap will reach 640,000 by 2029.

Posted by Orrin Judd at April 27, 2010 8:54 PM
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