While 60,000 new homes are needed every quarter, only 44,884 homes were built across Australia in the three months after the Accord kicked off.
The slowing property market is turning into a win for renters and first-time buyers, according to economists.
At the current pace, only 183,996 of the 322,000 new dwellings needed in Greater Sydney by July 2029 will be delivered.
Despite the Greens pivoting towards the plight of renters ahead of the election, tenants are giving more backing to the major parties, polling has revealed.
An independent development approval arbitrator is needed to consider appeals after number of cases doubled in a decade, according to HIA
The 169,140 new homes approved in 2024 is 30 per cent lower than required to achieve the 1.2 million National Housing Accord target.
Housing construction is expected to ramp up this year but labour shortages, builder insolvencies and higher global inflation pose headwinds.
Investors might start looking outside of the property market where most of Australia's wealth is held, as returns for another sector outstrip housing.
The short answer: yes, according to renowned expert David Bowman, a Professor of Pyrogeography and Fire Science at the University of Tasmania.
Radical 30% property price fall that would solve Australia’s housing affordability crisis is highly unlikely, according to AMP economist My Bui.
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