Fed: Housing crunch worsens as population boom continues

AAP General News (Australia)
04-27-2010
Fed: Housing crunch worsens as population boom continues

A new report says a nationwide housing shortfall has expanded far beyond expectations
.. as hundreds of thousands are priced out of the home ownership dream.

And the assessment for the next two decades is bleak .. with the report saying an exploding
population is projected to outpace property development in a massive housing crunch which
requires a substantial government response.

The National Housing Supply Council's report says the supply gap for housing reached
178 thousand 400 homes by June 2009 .. an increase from 99 thousand 500 at the same time
last year.

An additional 180 thousand homes need to be built every year for the next 20 years
.. just to keep pace with population growth.

It says major cities will be hit the hardest .. with Brisbane and south-east Queensland
accounting for 21 per cent of growth .. Melbourne at 19 per cent and Sydney sits at 16
per cent.

AAP RTV sbl/pmu/wf

KEYWORD: GAP (MELBOURNE)

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