Australia stepping up to the challenge
As major state political parties back moves to speed up housing developments, sluggish councils would have no choice but to accept new projects.
Long-standing, complicated planning processes will be swept aside in an effort to build more homes faster in a state that's fighting to keep young families.
Australia should follow New Zealand in reforming zoning rules to boost limp construction productivity and expand housing supply, leading economists say.
Lifting the caps in an expanded government home-buying scheme will open the door for more first-time buyers, but it also risks fast-tracking price rises.
Sydney's Long Bay Correctional Centre, and it's expansive tract of land on the eastern suburbs coastline, could be the key to solving the city's housing burden.
Latest Regional Movers Index – which tracks migration from capital cities to the regions – fell by nearly 20 per cent in June.
But annually there has been a decline of 4.2 per cent, suggesting sellers and buyers alike are hesitant about proceeding, SQM Research's Louis Christopher says.
The 180,500 figure for homes started in 2024-25 is almost 60,000 short of the government’s annual target of 240,000, Master Builders Australia Shane Garrett says.
With listings 20 per cent below average and values climbing, Cotality's Tim Lawless is one of the experts who says the supply-demand imbalance could push annual growth into double digits.
Property Council's Matt Kandellaars says drop in home building approvals during July was disappointing.
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