ADELAIDE will need almost 30,000 new houses in the next five years to keep up with an escalating population, a new report shows.
The Australia On The Move report, released yesterday, forecasts Adelaide's population to increase by 18 per cent – or 213,823 – by 2027.
The Residential Development Council and Matusik Property Insights report reveals Adelaide will need an extra 5856 houses every year for five years.
The forecast is higher than an 2001 report, conducted by demographer Bernard Salt, which said Adelaide needed 5113 new houses each year between 2001 and 2011 and 3788 every year after that until 2031.
Residential Development Council executive director Caryn Kakas said the Australian population was expected to explode. That will certainly add stress to the Adelaide housing supply and demand deficit.
"Limited supply and rising demand can only lead to one thing: rising prices. And rising prices means less affordable housing," she said.
The report shows Adelaide's current estimated residential population is 1.18 million. That is expected to increase by more than 200,000 by 2027.
South Australia's population is forecast to grow by 17 per cent to 1,898,754. Australia's population is anticipated to increase by almost six million people within 20 years which means at least 155,000 houses per year during that period will be required.
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