Diminishing value for the ballooning cost of a university degree could prove a windfall for the construction industry as it's hoped more young people are steered towards in-demand trades, a Senate hearing has been told.
Industry peak bodies fronted a parliamentary inquiry on Monday to discuss how to make it easier for young people to enter the housing market.
Tackling chronic worker shortages to help increase housing supply was chief among the builders' concerns.
An additional 83,000 skilled trades workers were needed to meet the National Housing Accord's target of 1.2 million homes in five years, according to the Housing Industry Association.
Master Builder's Australia national director Darren Disney put that gap even higher at 116,000.
The peak body's chief economist Shane Garrett said the perception better jobs were only available via university historically kept young people out of apprenticeships, but that idea was being dismantled.
