ECONOMY1 July 2024
“We will build 1.2 million new, well-located homes over five years from mid-2024.”
— Anthony Albanese · National Housing Accord
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CONTEXT
Australia's Housing Accord target is already in deep trouble. Year one delivered just 174,030 homes — a 27.5% shortfall. Forecasts show Australia will miss by 262,000 homes. No state or territory is on track. Build times have blown out 20% and costs are up 40%.