“Stretched” homebuilders cannot meet housing targets

The Albanese government’s National Housing Accord target of building 1.2 million homes over five years was always a delusional pipe dream detached from reality.

The record single year for Australian dwelling completions was around 223,500 in 2017, when the nation was building huge volumes of defective high-rise apartments.

However, economic conditions were far more favourable than now, making a mockery of Labor’s target to build 240,000 homes annually for five years straight—a level of construction that has never been achieved in a single year in Australia’s history.