Shane Oliver: Australia's housing shortage to persist

As explained last week, the latest forecasts from the National Housing Supply and Affordability Council’s (NHSAC) 2026 State of the Housing System report, released last week, are utterly delusional.

NHSAC has massively revised upwards its dwelling construction forecasts over the coming years compared to last year’s report, and now anticipates a residential construction boom:

By 2029-30, NHSAC forecasts that Australia’s rate of dwelling construction will have risen to close to its highest level in history, with 219,000 homes completed.

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.

Shane Oliver: Australia’s housing shortage to persist