Families looking for Australian homes on the west coast could face a struggle for several years, housing experts have suggested.
According to the Sydney Morning Herald, new figures reveal that the ongoing issue is set to worsen within the next five years, which will place increased pressure on the market.
New statistics from BIS Shrapnel predict that between 3,500 and 6,000 fewer properties will be constructed in the region every year, further increasing demand in the region.
In addition, the company forecast that residential building will see an increase of only three per cent this year, which will represent 21,200 new homes.
BIS Shrapnel's managing director Robert Mellor said: "Over the next five years, we expect dwelling commencements to be in the order of 24,000 [each year, compared to] 27,500 in underlying demand."
This news comes comments from Western Australian premier Colin Barnett who suggested the region's fragile economy could stall housing projects, the Australian reports.
Posted by Steve Douglas
According to the Sydney Morning Herald, new figures reveal that the ongoing issue is set to worsen within the next five years, which will place increased pressure on the market.
New statistics from BIS Shrapnel predict that between 3,500 and 6,000 fewer properties will be constructed in the region every year, further increasing demand in the region.
In addition, the company forecast that residential building will see an increase of only three per cent this year, which will represent 21,200 new homes.
BIS Shrapnel's managing director Robert Mellor said: "Over the next five years, we expect dwelling commencements to be in the order of 24,000 [each year, compared to] 27,500 in underlying demand."
This news comes comments from Western Australian premier Colin Barnett who suggested the region's fragile economy could stall housing projects, the Australian reports.
Posted by Steve Douglas
