With an estimated deficit of 97,284 dwellings in 2024, expected to grow to 145,470 by 2026*, Australia’s rising housing crisis, exacerbated by high immigration and limited new constructions, continues to drive up prices and rents.
While the average housing price reached approximately $939,000 in late 2023, with further increases predicted as property prices rise due to demand outpacing supply, Australia's rental crisis has escalated further in 2024, with rents pushed to significant highs, driven by factors such as high population growth and limited rental supply.
Against this challenging backdrop, modular and prefabricated housing continues to show promise as a solution to Australia’s housing crisis. Modular homes can be built up to 50% faster than traditional methods, and about 70-90% of the construction takes place offsite in controlled factory environments, which reduces delays caused by weather and site conditions. Prefab homes can also cut construction costs by up to 25%, helping ease housing affordability challenges.
Additionally, the Federal Government aims to build 1.2 million homes over five years, supported by $3.5 billion in incentives for states and territories.
Event details
Event: 4th Annual Modular for Affordable Housing
Date: 9th - 10th April 2025
Location: Sydney Masonic Centre, Australia
Please visit https://www.trueventus.com/4th-modular-affordable-housing-sydney/ to register for the conference.
*Australia Institute of Health and Welfare report
Image: https://research.curtin.edu.au/news/the-future-is-modular/?type=news
