Australian housing supply indicators crumble

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.