Nobody believes Albo’s 1.2 million homes promise

Monday 21 August 2023

Key housing industry analysts have rubbished National Cabinet’s agreement to build 1.2 million homes over five years, beginning 1 July 2024.

As I noted last week (here and here), Australia has only built more than 220,000 homes in a year once: in 2017 when it completed 223,000 homes:

Australia’s 40-year average dwelling construction rate is 160,000 – i.e. 80,000 less than proposed by National Cabinet.

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.