Australia’s housing supply pipeline is broken

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In 2024, The Age reported the YIMBY (‘Yes In My Backyard’) manifesto as follows:

“Key to the YIMBY manifesto is the idea that a restrictive planning system, including existing height and heritage controls, is blocking a potential deluge of apartment construction in inner and middle Melbourne that – if allowed – would force down prices and rents”.

The YIMBY’s argument is that if planning systems were relaxed to allow more high-density apartments to be built anywhere, then home prices and rents would be forced lower by the resultant supply.

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.