Affordable Housing - Is it still on the agenda?

I attended the HIA Outlook breakfast in Brisbane last week. The message that came out of the morning was that housing in Queensland is in a pretty depressed state and there is not much relief in store for this current financial year.

The confusing thing is that Queensland has been building around 11,000 houses fewer than the number which our population growth would indicate are needed for the last four or five years. It's a pretty scary thought that some day there will need to be a catch-up.

A big factor is that first home buyers have left the market in droves since the stimulus first home buyers grants finished and interest rates turned upwards.

So I guess the question arises. Are house prices pushing home ownership out of reach of the average first home buyer?

If so I would love to hear what you think the real reason is and where the solution lies. Some suggestions I've heard so far include:
Interest rates,
government/local government fees, charges and taxes,
that the current generation wants too much too soon,
building codes add too much cost.

With the cost of electricity and water increasing along with a looming price on carbon we may wonder if housing will become more affordable any time soon. In fact is affordable housing still on the agenda?

What do you think?