Published 28 days ago • loading... • Updated 23 days ago

Albanese Vowed to Build 1.2 Million Homes. His Own Agency Shows Him Falling Well Short

Australia plans to add 1.2 million new residences by 2029, but current projections estimate a shortfall of approximately 262,000 homes against this target.
This shortfall results from ongoing issues including restrictive planning laws, scarce skilled workers, high interest rates, and fragmented land supply.
Housing affordability worsened in 2024, with mortgage repayments consuming half of median earnings and only 14% of new homes affordable for median-income households.
Federal and state governments are introducing policies like zoning reforms, the Housing Australia Future Fund, and Help to Buy to increase supply and aid buyers.
Despite these efforts, experts warn that overcoming the housing crisis will take sustained action to reform taxes, planning, and construction to improve affordability and supply.

Insights by Ground AI

Does this summary seem wrong?

23 Articles

All

Left

Center

Right

The Canberra Times

Reposted by

The Border Mail

Lean Left

Australia's plan to build more homes is in deep trouble. We need bold action

Australia risks missing its 1.2 million homes target by 2029, falling short by 262,000. Urgent reforms are needed to tackle housing affordability.

24 days ago·Canberra, Australia

Read Full Article

The Conversation

+2 Reposted by 2 other sources

Center

Australia is forecast to fall 262,000 homes short of its housing target. We need bold action

A new report offers a roadmap to a healthier housing system. But its recommendations will require bold action.

25 days ago

Read Full Article

ABC Australia

Lean Left

Housing warning issued to Government - ABC listen

The Federal Government's housing advisory council has released a scathing report on what it calls "a housing crisis that's been decades in the making."

26 days ago·Australia

Read Full Article