One million homes needed to keep up with immigration: HIA
June 30, 2008
The Housing Industry Association (HIA) says housing supply is not keeping pace with Australia's booming immigration intake and one million new homes will be needed over the next five years.
HIA says there has been record immigration growth but no accompanying increase in housing.
The head of the association's policy division, Chris Lamont, says the problem is exacerbated because there has been a decline in the number of people per house.
He says he doubts the demand for housing will be met.
"The skills shortages that are plaguing the industry, limited land release and the limited investment are playing havoc," he said.
"In the five-year period that we're looking at, we're going to see continued house price growth and continued rental growth unless we make a sizeable difference in combating the demand."
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