The National Housing Finance and Investment Corporation (NHFIC) has released its first flagship report producing five-year projections for housing supply and demand across Australia’s major cities and regional areas.
The State of the Nation’s Housing 2020 report assesses the number of new households that are expected to form (new housing demand) over the next five years, the number of new net dwelling additions expected to come on-line, and annual balance of new supply and demand, while also assessing housing affordability.
NHFIC’s flagship report, which will be undertaken annually, found:
NHFIC CEO Nathan Dal Bon said: “This first flagship report from NHFIC’s research team is an independent and comprehensive report producing detailed projections that shed light on the state of the nation’s housing market.
“While there have been many challenges during 2020, there has also been a great degree of resilience in the property sector to date. Due to historically low interest rates and government stimulus, construction activity and housing prices have held up better than many anticipated.
“COVID-19 has changed the way we live and work with implications for housing demand, supply and affordability across all of Australia’s housing markets. We look forward to continuing to build our knowledge and our understanding of these issues to produce work which helps to inform policy discussions and improve housing outcomes,” Mr Dal Bon said.