Much has been made of the rapid population growth in Australia’s capital cities, but is there enough housing stock to cater for the projected increases in urban residents? Not according to RP Data senior research analyst Cameron Kusher who has warned that population growth has exceeded dwelling approvals in recent times and, as a result, there is an undersupply of stock. Using recently released ABS data, Kusher found that, over the year to June 2013, the overall capital city population increased by 313,387 persons yet just 114,825 dwellings were approved for construction. After the figures were adjusted for average household size plus the assumption there should be 15% more dwelling approvals to replace demolitions, he determined there should have been 137,005 dwellings approved for construction. This finding meant that there was, in fact, a shortfall of 22,180 capital city dwelling approvals.
Posted on: Wed, 23 Apr 2014 02:08:30 +0000
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