Report paints bleak picture for housing, affordability and rental market
The National Housing Finance and Investment Corporation’s (NHFIC) third State of the Nation’s Housing 2022–23 report points to a decades-long struggle ahead to provide Australians with enough homes in which to live.
The opening of Australia’s borders in early 2022 led to a much stronger than anticipated recovery in population growth. (Image source: Shutterstock.com)
The outlook is bleak for renters and those aspiring to live in an affordable property, with a major new report predicting a housing supply shortfall of more than 106,000 homes over the next five years.
Net additions of apartments and medium-density dwellings, such as townhouses, are projected to be around 57,000 a year over the five years to 2026-27, which is around 40 per cent less than the levels seen in the late 2010s.
The National Housing F…
