Australia

Australia news LIVE: Housing shortages could cost nation $25 billion a year; Crown Sydney wins conditional licence for Barangaroo casino; energy market suspension to be lifted


Businesses are more and more struggling to seek out and retain staff who can afford to dwell inside an appropriate commuting vary, with a serious new research warning a continual lack of reasonably priced housing is ready to price taxpayers $25 billion a 12 months if nothing is completed.

Some companies have even taken issues into their very own palms, providing the choice of low-cost lodging to lure staff unwilling to courageous the lengthy each day commute.

Housing affordability is a serious problem for patrons and renters.Credit:Jason South

The research, by public coverage consultants SGS Economics and Planning, discovered many years of under-investment had triggered a collapse within the proportion of the housing inventory considered reasonably priced.

Social housing – a catch-all section masking public housing and different types of subsidised or lower-cost housing – now makes up simply 4 per cent of nationwide housing inventory, a report low, and down from 6 per cent in 1996.

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