Fri, 17/07/2015 - 00:00 The Conversation
Housing affordability is a perennial problem in Australia and has worsened significantly over the past three decades. Multiple reasons exist for the the lack of affordable housing. On the demand side these include population growth and increased migration to urban areas, easily accessible housing finance, tax incentives and a “strong cultural preference for owner-occupied detached houses”. On the supply side, affordability problems are exacerbated by inflexible and slow responses to the need for new housing stock, lack of infrastructure and generally inefficient planning processes and development assessment by local governments.