The Housing Industry Association (HIA) views the recent Council of Australian Governments (COAG) report as a sure sign that the housing shortage in Australia is worsening.
HIA chief executive officer Graham Wolfe called for urgent housing reform in order to address the situation.
"This latest report from the COAG Reform Council dovetails with the recent findings of the National Housing Supply Council which show that Australia’s aggregate housing shortage has grown by a further 28,000 dwellings in 12 months," he stated on June 29.
"This is the crux of the issue - if you want more affordable housing in Australia then you need to reduce the cost of new housing and boost housing supply," he added.
With demand increasing and a disproportionate supply chain, there is fear that buying residential property will go beyond the reach of certain members of Australian society.
"The situation can be turned around, but it requires action and that action needs to occur now," said Mr Wolfe.
He cited regulations and taxes as some of the challenges to promoting for affordable housing and boosting home builds.
