Australian homes are becoming more affordable because of government investment but there is still more to do, a report from the National Housing Supply Council (NHSC) has revealed.
It found that housing supply has increased at a lower rate than demand, with the gap increasing to 28,200 dwellings in the year to June 2010.
The report also revealed that rent has grown faster than earnings in recent years.
Minister for housing and homelessness Robert McClelland responded to the report by accepting that buying property in Australia was still too much of a challenge for many citizens.
"We need to make sure housing supply matches the needs of our changing population - that is why the government is making an unprecedented investment to increase the supply of affordable housing," he said.
The NHSC was founded in 2008 in an attempt to counter increasing concerns about the lack of property available for families with low or average incomes.
Posted by Steve Douglas
