Undersupply to fuel unit demand

By |

Australia’s chronic property shortage is set to be one of the key issues underlying the real estate market for years to come, and will drive up the demand for units, says the government’s housing supply advisory.

According to the National Housing Supply Council’s recently released State of Supply Report 2011, Australia’s overall shortage of dwellings sits at 186,800 and is projected to hit 640,000 by 2030.

In terms of sheer numbers, the largest housing shortfalls are in NSW and Queensland, says the report, with shortfalls of 73,700 and 61,900 respectively.

In relative terms the Northern Territory tops the list, with a shortfall that is estimated to exceed 10% of total underlying demand.

According to the report, the key factors behind Australia’s national housing shortage include:

  • the country’s high rate of population growth;
  • a weak post-GFC construction market;
  • Australia’s ageing population;
  • significant growth in the number of lone-person households;
  • and significant growth in the number of households containing couples without children.

As a result, the National Housing Supply Council expects higher density housing to increase in popularity in the coming decades.

“Most regions are projected to see a greater relative increase in demand for flats, apartments and townhouses than for detached houses,” says the report.

Whether you are looking to buy your first home, move home, refinance, or invest in property, a mortgage broker can help. Access loans from all the major lenders, get help with paperwork – plus there is no charge for this service. Get help from a local mortgage broker

Top Suburbs : st peters , albion , rockville , newcastle , west rockhampton

go back

Get help with your investment property

Do you need help finding the right loan for your investment?

When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.

Just fill in a few details below and we'll then arrange for a local Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus an appointment is free.

How soon would you like a mortgage?
What is your Annual Household Income i $
Do you currently own any Investment Properties?
Do you own your own residence?
How much equity do you have in all your current properties?
First Name
Last Name
Where do you live?
What number can we reach you on?
E-mail address
We value your privacy and treat all your information seriously - you can check out our privacy policy here