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Australia not building enough homes! Federal housing minister Clare O’Neil has delivered strong words about housing supply and affordability. “Australia is in the middle of a housing crisis which has been decades in the making,” she said in a speech to the AFR Property Summit. “This chart shows us that incomes and house prices were diverging in the 1980s, and that this problem accelerated acutely from the late 1990s. At the turn of the century, the median household price was about 4 times average incomes. Today it is nearly 8 times. “Why have prices gone up in this way? Because for a long, long time in our country, we have not been building enough homes.” Minister Clare O’Neil said Australia has less housing per person than comparable countries, such as Canada, the UK and France. “Fewer homes means less affordable housing. Because the same number of buyers and renters are spread across fewer homes. It sounds trite – but what happens when we build more homes? Housing becomes more affordable.” The federal government is aiming to facilitate the building of 1.2 million homes in the five years from July 2024, but many experts believe it will struggle to achieve its target. #property #realestate #homeloans

Australia not building enough homes: minister Federal housing minister Clare O’Neil has delivered strong words about housing supply and affordability. “Australia is in the middle of a housing crisis which has been decades in the making,” she said in a speech to the AFR Property Summit. “This chart shows us that incomes and house prices were diverging in the 1980s, and that this problem accelerated acutely from the late 1990s. At the turn of the century, the median household price was about 4 times average incomes. Today it is nearly 8 times. “Why have prices gone up in this way? Because for a long, long time in our country, we have not been building enough homes.” Minister Clare O’Neil said Australia has less housing per person than comparable countries, such as Canada, the UK and France. “Fewer homes means less affordable housing. Because the same number of buyers and renters are spread across fewer homes. It sounds trite – but what happens when we build more homes? Housing becomes more affordable.” The federal government is aiming to facilitate the building of 1.2 million homes in the five years from July 2024, but many experts believe it will struggle to achieve its target. #property #realestate #homeloans

Australia not building enough home: minister #federal housing minister Clare O’Neil has delivered strong words about housing supply and affordability. “Australia is in the middle of a #housing crisis which has been decades in the making,” she said in a speech to the AFR Property Summit. “This chart shows us that incomes and house prices were diverging in the 1980s, and that this problem accelerated acutely from the late 1990s. At the turn of the century, the median household price was about 4 times average incomes. Today it is nearly 8 times. “Why have prices gone up in this way? Because for a long, long time in our country, we have not been building enough homes.” Minister Clare O’Neil said Australia has less housing per person than comparable countries, such as Canada, the UK and France. “Fewer homes means less affordable housing. Because the same number of buyers and renters are spread across fewer homes. It sounds trite – but what happens when we build more homes? Housing becomes more affordable.” The federal government is aiming to facilitate the building of 1.2 million homes in the five years from July 2024, but many experts believe it will struggle to achieve its target. #property #realestate #homeloans

Australia not building enough home: minister Federal housing minister Clare O’Neil has delivered strong words about housing supply and affordability. “Australia is in the middle of a housing crisis which has been decades in the making,” she said in a speech to the AFR Property Summit. “This chart shows us that incomes and house prices were diverging in the 1980s, and that this problem accelerated acutely from the late 1990s. At the turn of the century, the median household price was about 4 times average incomes. Today it is nearly 8 times. “Why have prices gone up in this way? Because for a long, long time in our country, we have not been building enough homes.” Minister Clare O’Neil said Australia has less housing per person than comparable countries, such as Canada, the UK and France. “Fewer homes means less affordable housing. Because the same number of buyers and renters are spread across fewer homes. It sounds trite – but what happens when we build more homes? Housing becomes more affordable.” The federal government is aiming to facilitate the building of 1.2 million homes in the five years from July 2024, but many experts believe it will struggle to achieve its target. #property #realestate #homeloans

Australia not building enough home: minister Federal housing minister Clare O’Neil has delivered strong words about housing supply and affordability. “Australia is in the middle of a housing crisis which has been decades in the making,” she said in a speech to the AFR Property Summit. “This chart shows us that incomes and house prices were diverging in the 1980s, and that this problem accelerated acutely from the late 1990s. At the turn of the century, the median household price was about 4 times average incomes. Today it is nearly 8 times. “Why have prices gone up in this way? Because for a long, long time in our country, we have not been building enough homes.” Minister Clare O’Neil said Australia has less housing per person than comparable countries, such as Canada, the UK and France. “Fewer homes means less affordable housing. Because the same number of buyers and renters are spread across fewer homes. It sounds trite – but what happens when we build more homes? Housing becomes more affordable.” The federal government is aiming to facilitate the building of 1.2 million homes in the five years from July 2024, but many experts believe it will struggle to achieve its target. #property #realestate #homeloans #therentalspecialists

Australia not building enough home: minister Federal housing minister Clare O’Neil has delivered strong words about housing supply and affordability. “Australia is in the middle of a housing crisis which has been decades in the making,” she said in a speech to the AFR Property Summit. “This chart shows us that incomes and house prices were diverging in the 1980s, and that this problem accelerated acutely from the late 1990s. At the turn of the century, the median household price was about 4 times average incomes. Today it is nearly 8 times. “Why have prices gone up in this way? Because for a long, long time in our country, we have not been building enough homes.” Minister Clare O’Neil said Australia has less housing per person than comparable countries, such as Canada, the UK and France. “Fewer homes means less affordable housing. Because the same number of buyers and renters are spread across fewer homes. It sounds trite – but what happens when we build more homes? Housing becomes more affordable.” The federal government is aiming to facilitate the building of 1.2 million homes in the five years from July 2024, but many experts believe it will struggle to achieve its target. #property #realestate #homeloans #therentalspecialists

Australia not building enough homes: Housing minister Federal housing minister Clare O’Neil has delivered strong words about housing supply and affordability. “Australia is in the middle of a housing crisis which has been decades in the making,” she said in a speech to the AFR Property Summit. “This chart shows us that incomes and house prices were diverging in the 1980s, and that this problem accelerated acutely from the late 1990s. At the turn of the century, the median household price was about 4 times average incomes. Today it is nearly 8 times. “Why have prices gone up in this way? Because for a long, long time in our country, we have not been building enough homes.” Minister Clare O’Neil said Australia has less housing per person than comparable countries, such as Canada, the UK and France. “Fewer homes means less affordable housing. Because the same number of buyers and renters are spread across fewer homes. It sounds trite – but what happens when we build more homes? Housing becomes more affordable.” The federal government is aiming to facilitate the building of 1.2 million homes in the five years from July 2024, but many experts believe it will struggle to achieve its target. #property #realestate #homeloans

Australia not building enough home: minister 🏗️😟🏡 Federal housing minister Clare O’Neil has delivered strong words about housing supply and affordability. “Australia is in the middle of a housing crisis which has been decades in the making,” she said in a speech to the AFR Property Summit. “This chart shows us that incomes and house prices were diverging in the 1980s, and that this problem accelerated acutely from the late 1990s. At the turn of the century, the median household price was about 4 times average incomes. Today it is nearly 8 times. “Why have prices gone up in this way? Because for a long, long time in our country, we have not been building enough homes.” Minister Clare O’Neil said Australia has less housing per person than comparable countries, such as Canada, the UK and France. “Fewer homes means less affordable housing. Because the same number of buyers and renters are spread across fewer homes. It sounds trite – but what happens when we build more homes? Housing becomes more affordable.” The federal government is aiming to facilitate the building of 1.2 million homes in the five years from July 2024, but many experts believe it will struggle to achieve its target. LMS Takeaway - Knowing population will continue to increase faster than we can build new homes, how can you position yourself to capitalise on the trend? When demand exceeds supply, prices will continue to rise. Buying a house today will always be the most affordable time to buy. If you'd like to build a strategy around this, contact us today. #property #realestate #buildingandconstruction #realestateaccountants

Australia not building enough homes: Housing Minister Australia is facing a housing crisis that’s been building for decades. 🏠 Federal Housing Minister Clare O'Neil pointed out at the AFR Property Summit that house prices have surged since the 1980s, now nearly 8 times the average income. Why? We simply haven’t been building enough homes. O’Neil highlighted that Australia has less housing per person compared to countries like Canada and the UK, making housing less affordable. "When we build more homes, housing becomes more affordable," she stressed. The government aims to build 1.2 million homes by 2029, but experts are unsure if this target can be met. #property #realestate #housingcrisis #homeloans

In Western Australia, over three quarters of homes are calculated to be cheaper to buy than rent. In Queensland more than half of homes are estimated to be cheaper to buy, despite prices increasing by more than 50% since the pandemic. It is no surprise that one of the key reasons people continue to move away from NSW and Victoria is to take advantage of more favourable housing affordability.