Australian home prices are set to keep climbing as the housing supply shortage is compounded by record migration and limited capacity to deliver new builds.
Australia plans to address its climbing home prices in its national budget as the country struggles with a shortage of homes. "These all combine to create an environment in which prices and rents are growing faster than wages, rental vacancies are near all-time lows, 169,000 households are on public housing waiting lists, 122,000 people are experiencing homelessness and projected housing supply is very low," it added.
Source: Real Estate Daily Report (realestatedailyreport.net)
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