The numbers say it all:
• Australia has a shortage of 215,000 dwellings.
• Since 2005, the rate of population growth exceeds the rate of additions to housing stock.
• The National Housing Supply Council says the gap between supply and underlying demand in Australia widened by 28,200 homes in the 2010 financial year.
• State of Supply Report predicts the number to grow to more than 600,000 by 2030.
In lamens terms, there are not enough houses for the amount of people in Australia. Increased housing prices and a rise in rent for renters are some of the side-effects of the housing shortage. In particular, affordable housing and rental units for the lower income demographic have suffered the most shortages.
This is surprising given the fact that the Government has invested $450 million in a housing affordability fund and provides more than $1.2 billion a year as part of the National Affordable Housing Agreement.
However, opposition housing spokeswoman Marise Payne said the Gillard government had postponed funding for 30 per cent of the National Rental Affordability Scheme, stating “Labour should explain why they shelved funding for 15,000 homes out of 50,000 under NRAS until 2015-16.”
In addition to this, Mr McClelland, the new Minister for Housing and Homelessness, stated "There is still a lot to be done to address the inescapable fact that growth in underlying demand for housing is outstripping supply.”
The UK seems to have a solution that Australia is slowly adopting. By borrowing against its properties, Britain's community housing sector raised funds in excess of $59 billion for the delivery of social housing, affordable housing and urban renewal, all without any financial default.
Housing shortage is a problem that, as time goes by, increases drastically. Property Council of Australia chief executive Peter Verwer stated that, at this point, “every day we fall behind another 110 homes across the country.” And the problem goes beyond simply having a roof over our families’ heads. A lack of access to healthy, affordable housing could create emotional and mental issues, increase stress levels and start a cycle of problems that could span generations, as well as impact productivity in the workplace, community and economy.
RESEARCHED AND EDITED BY DANIELLA SERRET
SOURCES:
http://www.smh.com.au/opinion/society-and-culture/notforprofit-housing-will-mean-big-returns-for-the-most-disadvantaged-20120202-1qvij.html
http://www.theaustralian.com.au/national-affairs/housing-shortage-blowout-to-hurt-economy/story-fn59niix-1226228023321
http://www.abc.net.au/news/2011-12-21/housing-shortage-set-to-keep-growing/3742438
