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{{propApi.successMessage}} {{region}} Change location1.2 million target too important to abandon
1.2 million target too important to abandon
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The ABS today released its building activity data for the June quarter 2025. This data provides estimates of the value of building work and number of dwellings commenced, completed and under construction across Australia and its states and territories.
There were 45,160 new homes that commenced construction in the final quarter of the 2024/25 financial year, producing an annual total of 179,040 commencements,” added Mr Reardon.
“This data marks the completion of the first year of the Australian government’s five-year target of 1.2 million new homes being built across the country.
“The Australian government needed to facilitate the construction of 60,000 new homes per quarter, or 240,000 per year, to meet this target. After a year of underperformance, the target for the remaining four years is now 63,810 new homes per quarter, or 255,240 per year.
“HIA forecasts estimate that Australia will fall almost 200,000 homes short by the end of the five-year target period.
“There has been substantial policy reform this year that will improve the supply of new homes. These reforms will take time before they deliver new homes, and much more needs to be achieved.
“At a national level, positive reforms include the fast-tracking of EPBC reforms and removing the LMI requirement for first home buyers. Some state governments have also taken positive steps to improve supply, such as the NSW government plan to underwrite apartment sales and easing of planning barriers.
“Despite these initiatives, home building remains too expensive with onerous taxes, fees and charges incurred in delivering new homes to market.
“Policymakers must reduce the taxes, costs and restrictions on home builders, home buyers and home investors if they want to see the kind of construction volumes Australia needs. Skills shortages and infrastructure bottlenecks must also be addressed.
“All forms of housing need to be supported, including greenfield house and land packages, middle ring medium density units and townhouses, and inner city and activity centre high rise apartments,” concluded Mr Reardon.
1.2 million homes: actual and target, by quarter
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