Housing crisis: High costs strangle new supply – AFR survey
It’s a case of simple economics choking off the desperately needed supply of new housing as building costs rise faster than house price growth.
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It’s a case of simple economics choking off the desperately needed supply of new housing as building costs rise faster than house price growth.
Across the nation, the housing rebound is proving resilient despite higher borrowing costs, and a panel of 10 experts tips median gains of 5 per cent nationally.
Melbourne unit market outperformed Sydney and Brisbane in the past 20 years, but may not keep the leading position over the next decade amid oversupply of apartments in the past five years.
Property experts warn Australia lags the 1.2 million new homes target, agreed by governments to address the shortage of accommodation which has sent rents skyrocketing.
The heat is coming out of last year’s surprise housing recovery, with the pace of price growth tipped to halve, held back by affordability constraints.