NSW, and indeed most of Australia, is facing a housing crisis. Factors causing it are. 1. Chronic Supply Shortages and Government "Red Tape" NSW has built new homes at a much slower rate than other states. Over the last decade, NSW averaged a home-building rate of 17.7%, compared to Victoria's 21.8%. This historical undersupply has accumulated a shortfall of 126,000 fewer homes in NSW compared to Victoria, which alone has added approximately $117,800 to the price tag of an av