The Housing Industry Association estimates that over the next 10 years, Australia will need to build 1.92 million new dwellings to accommodate the rapid growth of the Australian population which is projected to reach 36 million by 2050 from its current 22 million.
Australia’s current housing shortage stands at 109,200 dwellings and is expected to reach 466,000 dwellings by 2020 based on current building trends.
The Housing to 2020 report found that housing shortages exist in just under half (295) of the 669 local government areas in Australia, with the majority in and around metropolitan Sydney and Brisbane.
Related news articles:
- Australia must tackle housing shortage, says senior RBA official
- Housing shortage to exceed 70,000 by 2020: HIA report