1 year ago

The worrying graph that shows Australia is going the wrong way in building the 1.2million new homes it needs to solve the housing crisis

A plunge in home approvals has cast severe doubt over the federal government's ambitious plan to build 1.2million homes in five years. Australia's new house approvals are slumping casting severe doubt over the federal government's promise to build 1.2milion homes in five years To meet the Albanese government's targets, 20,000 homes will need to be built every month from July this year until June 2029. A recent report on rental affordability by housing sector analyst PropTrack said the government's plan was looking 'unlikely' to deliver the numbers promised. Prime Minister Anthony Albanese said his government's housing plan would drive down soaring rents Economist Leith van Onselen argues that record immigration levels into Australia mean the housing crisis is only set to worsen.

Daily Mail
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