Despite a microscopic rise in building activity in November, an economist warns it could take “until the back half of the decade” to see a meaningful improvement.
Property experts warn Australia lags the 1.2 million new homes target, agreed by governments to address the shortage of accommodation which has sent rents skyrocketing.
The heat is coming out of last year’s surprise housing recovery, with the pace of price growth tipped to halve, held back by affordability constraints.