Australia stepping up to the challenge
The UK’s failure to meet its housing targets highlights construction and supply chain limits that echo challenges in Australia, new research suggests.
The average price of a home in Australia has hit $1 million after a decade of growth, though experts say a return to the explosive COVID-era boom is unlikely.
Building more than a million homes is a high bar to clear in a stagnant housing market, but the government says it is committed to railing on red-tape.
Buyers and renters are faring better for the first time in 12 months, according to new data.
A bid to sell a racecourse in Australia's urban heartland to build 25,000 homes has been scratched as eyes turn to the last working port in Sydney Harbour.
The HIA report forecasts that home building will fall 20 per cent short of the Australian Government’s target of 1.2 million new homes over the five years.
Minister O’Neil’s reappointment has been welcomed by industry bodies, who say Labor has a mandate to push on with its housing agenda.
The prime minister is poised to reveal his senior leadership team for Labor's second term and the "mandate to build more housing".
But house price growth is needed to ensure new construction is economically viable again, a senior economist says.
Building pipeline of that should be 4,100 a month was just 3,116 in March, according to the Australian Bureau of Statistics.
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