REA Group CEO Owen Wilson says the number one issue in Australia is the undersupply of housing in the country.
“You see that at its worst in the rental market,” Mr Wilson told Sky News Australia.
“If you look at rental vacancies, they’ve been falling for some time.
“You’ve only got to see every week on the news there’s a story of 70, 100 people turning up to an open for inspection rental – so it’s diabolical.”
He said Australia has to start constructing more housing to deal with the supply shortage.
In partnership with realestate.com.au