<p><strong>Friday 8th November 2024</strong></p><br><p>Please note this communication is not a research report and has not been prepared by NAB Research analysts. Read the full disclaimer <a href="https://www.nab.com.au/content/dam/nabrwd/documents/notice/corporate/CIB-podcast-disclaimer-aug-2023.pdf" rel="noopener noreferrer" target="_blank">here</a>.</p><br><p>Australia faces a rising tide of homelessness as rents push higher, out of the reach of many lower income earners.&nbsp;According to Rebecca Pinkstone, chief executive of&nbsp;Homes&nbsp;NSW, in her state alone there are 57,000 people on the register, looking for a home. Rents in Sydney and surrounds are often considerably more than a state pension.&nbsp;Supply is a big part of the problem, with developers reluctant to commit to the growth required because they face rising material costs and skills shortages. Subsidising existing rental simply maintains the elevated prices for properties. And, as Phil points out, it’s not just low income earners hit by the housing crisis. Household sizes in Australia are well above those of comparable economies, as children wait longer to move out.&nbsp;Phil asks, is it just about supply? Or is it time to address the government policies that have elevated prices for decades?</p><br /><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>

NAB Morning Call

Phil Dobbie

Weekend Edition: Are we moving fast enough to tackle Australia’s housing crisis?

NOV 8, 202427 MIN
NAB Morning Call

Weekend Edition: Are we moving fast enough to tackle Australia’s housing crisis?

NOV 8, 202427 MIN

Description

<p><strong>Friday 8th November 2024</strong></p><br><p>Please note this communication is not a research report and has not been prepared by NAB Research analysts. Read the full disclaimer <a href="https://www.nab.com.au/content/dam/nabrwd/documents/notice/corporate/CIB-podcast-disclaimer-aug-2023.pdf" rel="noopener noreferrer" target="_blank">here</a>.</p><br><p>Australia faces a rising tide of homelessness as rents push higher, out of the reach of many lower income earners.&nbsp;According to Rebecca Pinkstone, chief executive of&nbsp;Homes&nbsp;NSW, in her state alone there are 57,000 people on the register, looking for a home. Rents in Sydney and surrounds are often considerably more than a state pension.&nbsp;Supply is a big part of the problem, with developers reluctant to commit to the growth required because they face rising material costs and skills shortages. Subsidising existing rental simply maintains the elevated prices for properties. And, as Phil points out, it’s not just low income earners hit by the housing crisis. Household sizes in Australia are well above those of comparable economies, as children wait longer to move out.&nbsp;Phil asks, is it just about supply? Or is it time to address the government policies that have elevated prices for decades?</p><br /><hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>