Report finds need for more affordable housing

Font size :
New findings this week have emphasised the need for Australia to produce more affordable housing for its growing population.
 
The Commonwealth Government’s Intergenerational Report expects Australia will grow at 2.8% per annum in the next 40 years. This is less than the 3.1% per annum seen over the past 40 years.
 
Meanwhile, the report also anticipates the population growth to be at 1.3% per annum. This is also less than the 1.4% growth seen in the last four decades.
 
However, despite the slight decline in the projected population growth, the report still warned that it is still enough to make the population boom to 40bn in 2055.
 
“Australia will need more than 9m new homes to meet the needs of the population projected in the Intergenerational report,” said Wilhelm Harnisch, chief executive of Master Builders Australia.
 
“The key challenge will be to tackle intergenerational housing affordability in order to preserve home ownership as a fundamental pillar of Australian economic and family life over the next 40 years.”
 
Another chief executive, Graham Wolfe of the Housing Industry Association, agrees with Harnisch and said that “to achieve a significant increase in the delivery of housing that is affordable and meets the nation’s future demographic needs, governments must focus on investment in economic and social infrastructure, increasing the supply of residential land, and removing impediments in the planning system.”
 

It can be confusing to know whether to get a variable rate or fixed rate mortgage, and what features are important. That's why it's important to not only check the right rates, but make sure that you're getting the right features in your home loan. Get help choosing the right home loan

Mortgage News and Articles

How to tell when a housing market is cooling How to tell when a housing market is cooling

You need to check clearance rates, listings, and the price gap, among other factors Read more

Growing demand for green apartments in Sydney Growing demand for green apartments in Sydney Both owner-occupiers and investors favour eco-friendly buildings for their energy-saving features and reduced environmental footprint ... Read more

Are property investors as rich as they appear? Are property investors as rich as they appear? A multi-property portfolio doesn’t guarantee easy millions ... Read more

Be proactive about getting a better mortgage deal Be proactive about getting a better mortgage deal Apathy could be costing you a considerable amount of money over the lifespan of your loan ... Read more

More mortgage news and articles

Sponsored Links

Wednesday, Sep 20, 2017
Top Featured Rates
Top Bank Rates

Get help choosing the right home loan

Let us help you find the right home loan for your needs.

Tell us a bit about your circumstances:
  • Purpose of mortgage
  • Household Income
    $
  • How much do you want to borrow?
    $
  • How much deposit do you have?
    $
  • How much is your house worth?
    $
  • How much do you still owe on your mortgage?
    $
  • What type of mortgage do you have?


  • How much is your new home?
    $
  • How much do you want to borrow?
    $
  • How soon do you want a mortgage?
Next
  • First name
  • Last name
  • Where do you live?
  • Phone number

Special Offers

Related Keywords