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Borrower

Population surge adds pressure to housing crisis

by Staff Reporter3 minute read
The Adviser

Australia’s population grew by 332,000 people in 2007 to 21.18 million which has added further pressure to the country’s already strained housing situation, the ABS revealed yesterday.

The population of Western Australia and the Northern Territory each grew by 2.4 per cent, Queensland 2.3 per cent, and Victoria 1.6 per cent. New South Wales experienced only a moderate increase of 1.1 per cent.

According to BIS Shrapnel, Australia is currently producing 156,000 new homes annually – well shy of the 185,000 needed to accommodate its growing population.

Published: 25-06-08

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