Australia stepping up to the challenge
Australians have been told the housing crisis can't be solved in one fell swoop as brand new inner-city homes are opened for people on low incomes.
In a bid to meet its target of building 800,000 homes over the next decade, Victoria has announced new housing laws designed to speed up approvals.
If government is equity partner in property purchases, where's the incentive to make housing more affordable? Cameron Kusher
Building on top of Australian city skylines is an untapped market for strata owners and developers - worth $150 billion in Sydney alone.
The 47,645 new dwelling commencement figure revealed by the Australian Bureau of Statistics is behind the 60,000 that is needed per quarter.
Pre-approved house plans could be ready for construction in 10 days, in what NSW government hopes will ignite sluggish planning system.
Forecasts predicting a shortfall in the Housing Accord target reflect broader issues - from workforce shortages to planning red tape and infrastructure gaps.
Australia is facing a 285,000-home shortfall on the National Accord’s target of building 1.2 million homes by 2029.
Leaked advice on the government's new home target has failed to ruffle the treasurer, who says having an ambitious goal is better than building too few homes.
Perfect storm of undersupply - with unit completions falling 40 per cent - and a development pipeline skewed in favour of luxury homes a worry for policymakers.
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