Unit demand to remain strong with continuing under-supply forecasted

Australia’s chronic property shortage is set to be one of the key issues underlying the real estate market for years to come, and will drive up the demand for units, says the government’s housing supply advisory. According to the National Housing Supply Council’s recently released State of Supply Report 2011, Australia’s overall shortage of dwellings sits at 186,800 and is projected to hit 640,000 by 2030. In terms of sheer numbers, the largest housing shortfalls are in NSW and Queensland,...
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Darwin: More fuel for Australia’s property hotspot

Japanese resources giant Inpex has made the long-awaited announcement that its $30bn Ichthys gas project will go ahead, fuelling speculation that Darwin’s property market is set to take off. The project, which will see natural gas pumped into the city for processing into liquefied natural gas (LNG), is expected to boost the Northern Territory’s gross state product by 18% per year over the course of 40 years, says Inpex. In dollar terms, Inpex expects the Ichthys gas project to boost the Au...
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