No quick fix to Australia’s housing shortage, warns RBA

RBA's Hunter said there were signs that builders were considering new projects, given the strength of underlying demand, but high costs for products and labour were holding them back. — Bloomberg

SYDNEY: Australia’s central bank warns there is no quick fix to the country’s housing shortage, which is pushing up prices and rents and adding to inflationary pressures.

In a speech on the housing sector yesterday, Reserve Bank of Australia (RBA) assistant governor Sarah Hunter said there were signs that builders were considering new projects, given the strength of underlying demand, but high costs for products and labour were holding them back.