Sydney, March 27 – Sydney is currently at its lowest housing construction rate in 50 years. According to the Daily Telegraph more homes are set to be built in Adelaide than in Sydney in 2009. Despite the population growth of Australia’s biggest city, reports show that only 7,300 new houses will be built this year. This number is alarmingly less than previous years, and is roughly only a third of the figure in 2003.

Meanwhile, Melbourne is estimated to start construction on 23,000 new dwellings this year. Brisbane is set to grown its housing capacity by 13,450 while Adelaide will have 7,500 new homes.

Sydney’s population is expected to grow by close to 23,000 this year – which easily makes the dwelling shortage a reality.

“The Rees Government needs a really strong focus on getting the supply framework for housing sorted out,” says NSW executive director Ken Morrison. “State agency approvals, rezoning processes and infrastructure facilitation … they are big problems in NSW.”

The National Housing Supply Council believes that this is just the tip of the iceberg. The Council reported earlier this month that there was a shortage of 85,000 homes in June 2008. This gap is expected to widen with a shortage of 203,000 by 2013. And in 20 years, the shortfall could be up by 1.5 million homes.

Source:
News.com.au
SMH

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