Australia’s cities are clearly in the midst of an acute shortage of affordable housing. This fact was recently affirmed by the one and only treasury in the industrialised world to have avoided recession during the GFC. The Australian Treasury’s Red Book mentions the decreasing ability for Australians to “purchase or rent affordable housing”, while also lamenting the “market inefficiencies and distortions” which have contributed to the current sorry state of “housing supply”.
BY PETER SHERRIE
Such sentiment is widespread among developers countrywide, yet there remains a group of dissidents who refute any claims of a supply crisis and instead choose to demonise industry associations, such as the one I represent, as gold diggers perpetuating the myth of undersupply. Read more →