Australia’s National Housing Supply Council State of Supply Report 2008

National Housing Supply Council released its first State of Supply Report. The 2008 report focuses on:

• projections of underlying demand and of land and housing supply over 20 years from 2008 to 2028
• the gap between housing demand and supply and implications for submarkets, with particular attention on affordability issues for lower income households
• a number of current influences on supply and demand, as well as the need for research to better understand how these impact on the housing market
• discussion of data collection and methodology, including the need for more sophisticated modelling, and the need to improve data collection and analysis, particularly on land supply for residential development.

The purpose of this State of Supply Report is to provide accurate information to governments, to industry, to private developers, to public policy makers, about supply and demand issues in the housing sector in Australia.

The report looks at projected growth of demand over coming years under varying scenarios. It also goes into detail about the likelihood of increased supply to meet that increasing demand.

One of the main issues raised in the report that affects the Real Estate Industry is that demand of housing currently exceeds supply. The housing supply shortfall in 2008 was 85,000 dwellings, a figure that could reach 203,000 by 2013.

The Report found that housing demand in Australia was growing at a rate of about 150,000 homes per year and supply was falling short by only growing at a rate of 136,000 dwellings per year.

Go now to: National Housing Supply Council State of Supply Report