confused

Hey, I was reading this article, and the lack of logic got me confused.

http://smh.domain.com.au/real-estate-news/blogs/talking-property/homes-still-in-short-supply-20110621-1gcm9.html

Can someone tell me if my below calcs are wrong?

immigration is expected to grow to 200,000 per year (implying it isn't yet)

And we built just under 150,000 homes in past year.

With average home having 2.6 people living in it, doesn't that mean we are building a substantial surplus of homes?