People hoping to find a new Australian home could have a struggle on their hands, as there are fewer properties available.
The Australian property shortage is getting worse, with the gap between supply and demand having almost doubled in the past year, according to a report.
A third more Australian homes are needed in just 20 years to keep up with growing demand, figures from the National Housing Supply Council revealed.
In the 12 months to June 2009, the gap between Australian property supply and demand increased to 178,000, up from 99,500 in the previous 12 months.
Council chairman Dr Owen Donald said the shortage could worsen this year to more than 200,000.
"It could be higher," he warned.
By 2029, the Australian property shortfall is expected to be 640,000 homes.
On top of the housing shortage, people hoping to buy an Australian property are facing continued tough conditions in the lending market.
News Limited said those looking to get on the housing ladder should take steps to make themselves appealing to lenders, such as cancelling unnecessary credit cards.
Posted by David McElwain
The Australian property shortage is getting worse, with the gap between supply and demand having almost doubled in the past year, according to a report.
A third more Australian homes are needed in just 20 years to keep up with growing demand, figures from the National Housing Supply Council revealed.
In the 12 months to June 2009, the gap between Australian property supply and demand increased to 178,000, up from 99,500 in the previous 12 months.
Council chairman Dr Owen Donald said the shortage could worsen this year to more than 200,000.
"It could be higher," he warned.
By 2029, the Australian property shortfall is expected to be 640,000 homes.
On top of the housing shortage, people hoping to buy an Australian property are facing continued tough conditions in the lending market.
News Limited said those looking to get on the housing ladder should take steps to make themselves appealing to lenders, such as cancelling unnecessary credit cards.
Posted by David McElwain
