Despite the current boom in housing construction, new projections suggest Australia’s long-run average annual rate of new home building could be almost 30,000 dwellings short of what is needed to meet future demand.

Releasing its analysis of a range of scenarios regarding population and income growth through to 2050, the Housing Industry Association (HIA) says the nation would need a total of 186,391 new houses and apartments if, as it considers the most plausible scenario, medium growth rates of each come to pass….