Two years in, 124,000 behind: housing target slips away
FinancePerthNow

Two years in, 124,000 behind: housing target slips away

Australia is 124,000 homes behind on its five-year housing target, and now needs to build more than 280,000 homes a year just to catch up.

Australia now needs to build more than 280,000 homes per annum to meet the National Housing Accord target of 1.2 million new dwellings over five years.

The Long Sip
What happened

Australia completed 355,817 homes in the first two years of the National Housing Accord, leaving the country 124,183 dwellings short of where it needed to be by June 2026.

The detail

The country is building about 47,000 homes per quarter but needs roughly 70,000 per quarter to hit the 1.2 million target by mid-2029.

What it means

Although the number of homes under construction is at a record high of 248,733, the gap between supply and the target means housing affordability pressure is set to continue.

For you

With housing starts rising but still well below the required pace, property supply pressure is unlikely to ease soon, which matters if you are renting or hoping to buy.

Full story at PerthNow

What readers are saying

HamiltonRalph
The total under construction has reached 248733 which is the highest on record. That means even with the shortfall of 124183 homes the pipeline is fuller than it has been. In practice this suggests more completions should follow through the next few quarters.
Jess
The 11.6 percent jump in detached houses is actually a decent sign the market is responding where demand is strongest.
Stebox
Check the June quarter figures before assuming the target is completely lost. Completions rose from 44592 to 47168 so the trend is at least heading the right way.
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