This report focuses on projections of underlying demand and of land and housing supply over the 20 years from 2008-28, the gap between housing demand and supply and implications for submarkets, and current influences on supply and demand.
This report focuses on:
• projections of underlying demand and of land and housing supply over 20 years from 2008 to 2028
• the gap between housing demand and supply and implications for submarkets, with particular attention on affordability issues for lower income households
• a number of current influences on supply and demand, as well as the need for research to better understand how these impact on the housing market
• discussion of data collection and methodology, including the need for more sophisticated modelling, and the need to improve data collection and analysis, particularly on land supply for residential development.
The Council’s information gathering and consultation with the housing industry and state, territory and local governments took place from mid-2008. This was a period of fundamental change in the economic environment, from a period of high interest rates and sustained high levels of economic growth to the sudden and major disruption of the global financial crisis. The Council has endeavoured to factor some of the possible effects of the global financial crisis into our projections of housing demand and supply.