‘Politicians have stuffed it up’: Australia’s housing crisis

Australia’s housing crisis deepens with 262,000 home shortfall by 2029, worsened by bad policies and rising costs

Australia’s housing crisis is set to worsen, with a projected shortfall of 262,000 homes by 2029 raising further concerns about affordability and access for first home buyers.

Terry Ryder from Hotspotting argues that government policies and excessive bureaucracy are contributing to the problem, making it harder and more expensive to deliver new housing.

Ryder estimates that taxes, fees and charges account for 40 to 50% of the cost of building a house in Australia, adding to the financial pressure on developers and buyers.

With housing supply struggling to keep pace with demand and construction costs remaining a major hurdle, first home buyers continue to face significant barriers to entering the property market.

Interest rate movements and geopolitical uncertainty could add further pressure to the housing sector, complicating the outlook for buyers, investors and developers.

Ryder argues that addressing policy settings, reducing unnecessary costs and improving housing delivery will be critical to easing the affordability crisis.

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