Australia has almost 1 million fewer households than assumed in government forecasts of a housing shortage raising doubts about a supply shortfall cited as the main reason the nation will avoid a U.S.-style crash.
Australia has 7.8 million households data from the 2011 Census shows. That compares with estimates of 8.7 million as of June 2010 according to the latest figures used by the National Housing Supply Council a group created by the government in May 2008 to monitor housing demand supply and affordability. Australia’s population also grew by 300000 less than previously estimated to 21.5 million.’