The shortfall in Australian homes has increased by 28,000 properties, according to the Urban Development Institute of Australia (UDIA).
Since 2001, the cumulative shortfall in the country's residential property market has risen to 228,000 homes, the organisation revealed.
Without appropriate steps being taken, the body warned that this shortage could rise to more than 663,000 properties by 2031, reports Australian Property Investor.
Julie Katz, national president of the UDIA, said the figures highlight the fact that not enough dwellings are being built in Australia to satisfy the projected number of future households.
"Excessive taxation and charging coupled with an unresponsive planning system are constraining the development industry's ability to produce much-needed housing," she commented.
Ms Katz's remarks come in the wake of the latest Housing Supply and Affordability - Key Indicators report from the National Housing Supply Council.
The study showed that estimated shortages in June 2011 were particularly high in the Northern Territory, at 14.6 per cent of underlying demand.
Posted by Steve Douglas
