The so-called housing shortage, which has been used by the property industry as an excuse for Australia’s overpriced housing, has been exposed by the 2011 Census figures.
The Census revealed that the number of households in Australia is some 1 million less than assumed by the National Housing Supply Council (NHSC) in its estimates of Australia’s housing shortage.
From Bloomberg:
Australia has almost 1 million fewer households than assumed in government forecasts of a housing shortage, raising doubts about a supply shortfall cited as the main reason the nation will avoid a U.S.-style crash.
The Pacific nation had 7.8 million households, data released yesterday from the 2011 Census showed. That compared with estimates of 8.7 million as of June 2010, according to the latest figures used by the National Housing Supply Council, a group created by the government in May 2008 to monitor housing demand, supply and affordability. Australia’s population also grew by 300,000 less than previously estimated, to 21.5 million…
Read more: http://www.bri*****anetimes.com.au/business/housing-shortage-all-smoke-and-mirrors-20120622-20szh.html#ixzz1yV03JzSF
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