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The National Housing Accord is an Australian government initiative aimed at addressing housing supply and affordability by committing to building 1.2 million new homes over five years, starting from 1 July 2024.
This target requires the construction of 240,000 homes annually, a level of construction that has never been achieved before in Australia.
The greatest single 12-month period of construction in Australian history occurred in Q1 2017, when 223,600 dwellings were completed, 7% less than the government’s annual target.
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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.