Australia faces a shortage of more than 100,000 homes within the next five years as housing construction fails to keep up with demand, according to a new government report. More than half of that will be in apartments, and the biggest shortfalls will be seen in Sydney and Melbourne.
There will be 1.8m new households created over the next 10 years, in a period in which the population grows amid increasing immigration, people become richer, more live alone or in couples, and more work from home, the report by the National Housing Finance and Investment Corporation says.
