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According to a research report commissioned by the Property Council of Australia, Sydney families will struggle to find anywhere to live in ten years, with an estimated shortfall of almost 20,000 homes a year being approved at current rates. Byres says demand is out pacing supply in Sydney. He predicts an under supply of about 190,000 homes by 2024. He believes local councils need to do more to increase approval rates. He says he wants councils held to account for their performance against housing targets and also wants the Government to overhaul planning laws in NSW. He believes Sydney has been running 8,000 homes under target in the last three years. He says only five councils in Sydney are producing enough homes to keep up with the projected population growth. He says Pru Goward, NSW Minister for Planning, is aware of the report. He calls for an audit of the big infrastructure spend if there is a structured spend off the back of the possible leasing of state polls and wires. He confirms that average house prices have risen from $600,000 to $800,000 a home in Sydney in the past 2-3 years. More information http://www.propertyoz.com.au/nsw/Article/NewsDetail.aspx?p=16&id=10618