The following release from the HIA from last month discusses the potential for the current housing shortage in Queensland to worsen:
Queensland could find itself more than 150,000 homes short by 2020 if we don’t address our state’s massive problem with new home affordability, according to a new report from The Housing Industry Association (HIA), Australia’s largest building industry organisation.
The Housing to 2020 report examines current and future levels of housing demand and associated requirements for new homes.
“Queensland’s aggregate housing shortage currently stands at 8,000 dwellings,” said HIA Queensland Executive Director, Mr Warwick Temby.
“This shortage is set to worsen considerably without a plan from the Queensland Government to ensure well located, affordable land is readily available. Furthermore, planning restrictions, higher taxation on new housing relative to existing dwellings, labour shortages, and onerous regulation on new housing all add to the problem and constrain growth in new home construction.”
“Queensland’s population is projected to reach 8.7 million by 2056, with half the people residing in Brisbane. HIA estimates that over the next 10 years alone, Queensland will need to build 471,000 dwellings. That is 120,000 more homes than we built over the last 10 years.
“The supply of new homes has not kept pace with the number we need to build. As our housing shortage worsens, we run the risk of pushing up property prices further and leaving a sigificant number of people either homeless or forcedinto inadequate housing in terms of size and/or location,” said Mr Temby.