No ‘Quick Fix’ to Housing Demand-Supply Imbalance: Central Bank

Ms. Hunter said that supply chain disruptions during the pandemic limited the construction industry’s ability to respond aptly to the increasing demand.

A for sale sign is seen in front of houses with a view in a wealthy, beachside suburb in Albany, Western Australia, on March 2, 2024. Susan Mortimer/The Epoch Times

Addressing the imbalance between housing supply and demand “will not be a quick fix” despite government initiatives to construct new dwellings, according to Reserve Bank of Australia (RBA) Assistant Governor Sarah Hunter.

In a speech to the REIA Centennial Congress on May 16, Ms. Hunter cited problems in the housing construction industry, which had faced a “perfect storm” of constrained activity these previous years.