Lack of supply is doing the damage in home market
LACK of adequate housing supply is the key driver of the national affordability crisis for first-home buyers, according to Australia’s largest banks. A Senate committee examining intergenerational housing inequity has heard the nation’s big four banks are unanimous in pushing for a boost to housing supply. Representatives of the lenders appeared during the inquiry’s final day on Thursday. NAB chief economist Sally Auld told the inquiry the decline in house prices recorded in the first few months following the Federal Budget, when the government stripped some tax adv