Monday 3 April 2023
MEDIA RELEASE
NHFIC research shows grim housing supply deterioration and urgent need for national housing targets
The Property Council of Australia has highlighted the grim warning in today’s State of the Nation’s Housing research from the National Housing Finance and Investment Corporation (NHFIC) that points to a widening national housing gap.
Property Council Chief Executive Mike Zorbas said a like comparison between this year’s report and last year’s shows the full projection period gap in 2022 report (2022 to 2032) was broadly in balance and the full projection period gap in this year’s report (2023 to 2033) is minus 79,300 homes.
“This emerging 79,300 home deficit is a grim warning,” Mr Zorbas said.
“It reminds us that state, territory and local governments simply have to lift their run rates on housing supply across the at market, key worker and social housing spectrum.
“We also need to urgently move the housing needle by creating the right investment conditions for new build-to-rent housing, purpose-built student accommodation and retirement living communities.
“We need this for our existing population and to continue to attract the skilled migrants and students who support our education sector and bridge the huge gaps in our mining, construction agricultural and retail workforces nationally,” he said.
Mr Zorbas said the analysis also provides more reason to urgently revive and support the passage of the Australian Government’s legislative agenda on housing, including the Housing Australian Future Fund and the innovative new National Housing Supply and Affordability Council.
“All parties in the Senate also need to give fair consideration to passing the Australian Government’s housing bills, which will boost social and key worker housing around the country,” Mr Zorbas said.
ENDS
Media contact: Rhys Prka | 0425 113 273 | [email protected]
Ellie Laing-Southwood | 0416 007 830 | [email protected]