New housing modelling has painted a bleak outlook for Australia’s aspiring homeowners in the coming years as interest rate hikes and a surge in population growth are exacerbating housing shortages across the country.
According to the latest modelling released by the National Housing Finance and Investment Corporation (NHFIC)–a federal agency tasked with improving housing outcomes, Australia is expected to fall short of 106,000 dwellings by 2027.
This comes as the NHFIC predicted that over 1.8 million new households would be formed in Australia in the next decade.
However, the supply side is expected to take a big hit in the next few years and will not be able to meet the rising demand for accommodations….