THE ANZ Bank says the growing housing shortage is setting Australia up for the “mother of all” housing booms.
New home building figures showing slumping building approvals have sparked fears of a price and rent explosion that will price even more prospective buyers out of the market.
The ANZ’s senior economist, Paul Braddick, said yesterday Australia faced a critical and potentially chronic shortage of housing.
“A growing housing shortage is setting the scene for the mother of all housing booms,” Mr Braddick said.