Brisbane’s housing sector is ready to meet the challenges of an increase in the city’s population over the next decade.
Demographer, Bernard Salt published a report last week forecasting a growth in population of around 660,000 by 2031.
The increase in population will have an effect on the housing industry, according to interest groups.
Principal economic for the Housing Industry Association, Tim Reardon said the housing sector is equipped to deal with this challenge, however there is a need for more houses.
“What we’ve seen is a decline in the number of people per household so there will be a need for more houses,” Mr Reardon said.
This is supported by Queensland Government statistics in the 2017 Queensland Housing Strategy that show one bedroom homes are the most in demand.
Mr Reardon said finding land for development will be the biggest task over the next decade.
“The challenge facing any city with a growth in population is enough available land for dwelling,” Mr Reardon said.
The building industry has been in a down cycle since 2016 following record high levels, so the need for more construction workers is not a major concern, according to Mr Reardon.
In June 2017, the Queensland State government pledged $220 million to Brisbane as part of the Queensland Housing Strategy.
This was part of the government’s plan to invest in creating affordable and social housing over the next decade.