Australian housing affordability crisis worsens due to rising prices and limited construction amidst plans to build 1.2 million homes by 2034.
Australia's housing affordability crisis, a significant contributor to the cost-of-living issue, is unlikely to improve without major intervention. Despite plans to build 1.2 million homes by 2034, the rising property prices, driven by parental support from wealthier homeowners, hinder affordability. Reports predict a recovery in home building by 2026, yet challenges like high construction costs and labor shortages persist. Critics suggest reducing immigration to alleviate housing pressure.
September 15, 2024
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