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When the Albanese government unveiled its target of building 1.2 million new homes over the 5 years from July 2024 to June 2029, it was met with skepticism from a range of property and housing construction experts.
The skepticism was entirely understandable, considering that in the 12 months prior to the start of the so called ‘Housing Accord’ period, 177,700 homes had been built, far below the 240,000 per year required each and every year to meet the 1.2 million new home target.
To put the Albanese government’s target into perspective, the all time high rate of dwelling completions came in the 12 months to March 2017, during which 223,600 new homes were completed.
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About the author
Tarric is an Australian freelance journalist and independent analyst who covers economics, finance, and geopolitics. Tarric is the author of the Avid Commentator Report. His works have appeared in The Washington DC Examiner, The Spectator, The Sydney Morning Herald, News.com.au, among other places.
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