As a result of the strong population growth in Western Australia, HIA estimates that as at June 2011, Western Australia’s cumulative housing shortage was 32,600 homes.
In order to house the additional population as well as eliminate the already existing housing shortage, Western Australia will need to build approximately 31,700 homes per annum in the years to 2020.
This is equivalent to 43 percent more than the average build rate over the last five years.
It has been estimated that there will be approximately 252,800 additional households calling Western Australia home by 2020.
HIA estimates that in Queensland the supply of new housing is lagging well behind demographic demand. In order to house its additional population, as well as eliminate the dwelling shortage which already exists, Queensland would need to build approximately 47,200 homes per annum in the years to 2020.
Unfortunately, on present trends this is not a realistic goal – but there is no doubt the Sunshine State needs to take action to lift its levels of home building.
Meanwhile, according to economic forecaster BIS Shrapnel, Queensland can look forward to booming growth in the next four or five years, with mining and infrastructure investment leading the way. Adrian Hart, BIS Shrapnel's senior manager infrastructure and mining, said the big LNG plants planned for Queensland and a renewed coal development boom - with associated rail, port and pipeline infrastructure spending - would underwrite the forecast growth he saw continuing for four or five years at least. See our website for a home loan or call 1300 55 10 45.
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