A major new study warns that a chronic lack of affordable housing is set to cost Australian taxpayers $25 billion a year if no action is taken. There is a news report in The Age/SMH today.
The report, by SGS Economics and Planning for Housing All Australians (HAA), builds on work SGS Economics and Planning did to create the The Rural Councils Victoria Housing Blueprint, which showed that rural Victoria alone could suffer a $1 billion a year hit to its communities and economy.
Rural Councils Victoria Chair Cr Mary-Ann Brown said:
“The Rural Councils Victoria Housing Blueprint shows that we need 87,400 new homes in the next 15 years right across rural Victoria.
“And that’s before we take into account the recent surge in rural population as people move from the cities.”
“ABS data shows a 15,700 population increase across rural and regional Victoria, with the rural population increasing by 8,587.
“Housing supply shortfalls have a big negative impact on rural communities – including foregone jobs and lost opportunities.
“The Housing Blueprint found that there would be up to $1 billion per year in lost Gross Regional Product in rural Victoria if action is not taken.
“The Blueprint, produced by SGS Economics and Planning, found that the sectors of the economy worst hit by the lack of appropriate housing for rental and home ownership include:
“But every sector would be negatively impacted. That is why Rural Councils Victoria is calling on the Government to commit to boosting rural housing supply.
“This will supercharge migration to rural areas, stimulate economic development and create employment opportunities for rural communities right across Victoria.”