Labor’s housing target drifts further into never-never land
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Every month, the Albanese government’s target of building 1.2 million homes over five years, or 240,000 homes annually, drifts further into never-never land.
The Australian Bureau of Statistics (ABS) released the latest dwelling approvals figures for March, showing a 10.5% decline in approvals over the month in seasonally adjusted terms but a 0.5% monthly rise in trend terms:
Over the year to March 2026, 198,400 dwellings were approved for construction – the highest result since the year to October 2022:
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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.