ABS data reveals 130,000-home building shortfall under Albanese Accord

Australian new home completions are more than 80,000 short after two years of Anthony Albanese’s National Housing Accord. Australia’s housing pain is set to get worse with the nation almost 130,000 new home builds short after two years of a national effort to build its way out of a housing crisis. Australian Bureau of Statistics data released today show since the commencement of the National Housing Accord, a 1.2 million new home building goal set by the Albanese government to tackle the nation’s housing crisis in 2024, there have been just 355,817 new homes built. It is barely above the 352,463 completed in the prior two years. RELATED: Victorian government confirms $1m sale of Sunbury asylum to The Block Home approvals drop, apartment plunge threatens Albanese target Australians spend record $100bn on new homes amid tradie shortage To hit the 1.2 million homes target, the nation needed to build 480,000 new residences. While the ABS data shows more of an improvement for new home commencements, which hit 204,502 in the past financial year, up substantially from the 180,518 in the prior 12 months, even that was still short of the national target by almost 95,000 homes. The Housing I...