>For context, at current occupancy rates, our housing industry is building enough new homes for about 240,000 additional people per year, but our net migration

>For context, at current occupancy rates, our housing industry is building enough new homes for about 240,000 additional people per year, but our net migration is about 600,000 per year. That is certainly a problem that needs to be fixed, but my point was just that housing is not unaffordable at the moment. >there are hundreds of people applying for every available property which means it often takes many months to secure one. I find that hard to believe in general. If that was the case then prices would simply increase to match demand. You will always get news stories like this, but it doesn't apply to all properties. Probably just subsidized rent, or underpriced ones. If you go for the slightly overpriced properties, I'm guessing you won't have to compete with hundreds of buyers.