Budget: Labor’s first chance in a decade to address housing supply crisis
Labor went to the election with a solid commitment on improving housing affordability, primarily targeted at demand side support and extra social housing. – Urban Taskforce CEO, Tom Forrest wrote …
While welcome, this does not address the underlying issue: that housing supply in Australia has fallen well behind demand and urgent reforms on the supply side are needed to improve housing outcomes for more households.
In Greater Sydney, the economic engine room of the nation, NSW DPE predict that the next 5 years will see only 151,490 new homes produced on the “medium growth” scenario – well below the 40,000 per year that the NSW Housing Strategy said was needed in 2021.
New Housing supply data on the NSW DPE Urban Development Program Dashboard shows that things are getting worse.
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