Guest The Pom Queen Posted September 21, 2008 Share Posted September 21, 2008 Here is the article below it can be found here: Housing squeeze deepens | Herald Sun MELBOURNE'S housing shortage is worse than realised, according to government projections. Documents obtained by the Sunday Herald Sun under Freedom of Information show new housing approvals - which slumped from 33,373 four years ago to 27,276 in 2006-07 - will reach only 28,720 by 2011. Previous estimates by the Housing Industry Association had the number of new homes in Melbourne recovering to 38,828 a year by 2011. The projection of new home approvals was prepared for the Premier by the Department of Planning and Community Development in February. A government spokesman said the estimates were based on outdated ABS data and were a "projection, not a prediction". But HIA economist Harley Dale said if the projection was correct, Melbourne's housing crisis was far worse than thought. "We are estimating a shortfall 7000 dwellings a year by 2010-11," he said. "These numbers would suggest the situation is even worse than that, especially as the situation has deteriorated since February." The findings came as property analyst RP Data warned the rental crisis was likely to get much worse because despite strong population growth, construction of new housing continued to languish. It predicted the average Melbourne house rental price would rise 14 per cent this year. Link to comment Share on other sites More sharing options...
Guest Brickie Posted September 21, 2008 Share Posted September 21, 2008 Brilliant, itll keep me busy for a while......:notworthy: Link to comment Share on other sites More sharing options...
Guest Durathor Posted October 9, 2008 Share Posted October 9, 2008 It's happening all over western society. Oddly enough the rental market performs inversely to the sales market. Link to comment Share on other sites More sharing options...
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