AustraliaPerthNowHousing update to show target slipping further away
Australia is already more than 100,000 homes behind on its target to build 1.2 million new homes in five years, and the gap is expected to widen further.
Two years into its five-year bid to build 1.2 million new homes, Australia is running more than 100,000 behind schedule.
New building data is expected to confirm Australia is falling further behind on its National Housing Accord target of 1.2 million new homes by mid-2029.
Only about 308,000 homes have been completed in seven quarters, well below the roughly 420,000 needed to stay on track, requiring a run rate of nearly 69,000 per quarter now.
Master Builders Australia warns the shortfall could reach 260,000 homes without policy changes, citing approval delays, workforce shortages, and rising material costs.
Master Builders Australia forecasts a shortfall of around 260,000 homes unless policy settings change, which could keep pressure on rents and property availability for years to come.
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