Economists Aren’t Buying Australia’s Ambitious Housing Plans
This article is for subscribers only.
Australian governments have unveiled multi-billion dollar plans in recent days to help address the nation’s deepening housing crisis, but an ongoing supply crunch suggests the cash is unlikely to make much of a dent in the problem.
The southeastern state of Victoria on Wednesday announced a suite of reforms including increased social housing and better planning processes in a bid to construct 800,000 extra homes over the next decade. Earlier in the week, New South Wales state, where Sydney is located, announced A$2.2 billion ($1.4 billion) in new housing and infrastructure projects.