RBA rate hikes put housing targets at risk

Tuesday 10 February 2026

The Albanese government’s Housing Accord target of building 1.2 million homes over five years has fallen well behind.

The Housing Accord commenced on 1 July 2024 and requires the construction of 240,000 homes over five years to meet the target.

As of the September quarter of 2025, only 219,000 dwellings had completed construction, 27% fewer than the 300,000 required run rate to meet the Housing Accord’s 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.