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{{propApi.successMessage}} {{region}} Change location1 million houses: the foundation for more affordable housing for all
1 million houses: the foundation for more affordable housing for all
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“Labor’s first budget shows leadership to tackle Australia’s housing supply and affordability challenges for all Australians,” said Graham Wolfe, HIA Managing Director.
“Importantly, this target provides a necessary indicator to governments at all levels, that priority action is needed should housing supply fall below 200,000 new homes each year.
HIA’s forecasts show that this situation is playing out right now – with around 196,000 new homes predicted to start in 2022 and 2023, falling to around 185,000 in 2024 and 2025.
“Year on year housing supply shortfalls, as we’ve seen for most of the last two decades, inevitably add pressure to Australia’s housing challenges.
“For every year that Australia doesn’t deliver enough new homes to meet demand across the housing continuum, we will see a negative impact on both housing affordability and rental affordability.
“HIA has consistently advocated for the federal government to play a leadership role in achieving stable housing supply, year on year, in all forms and for all tenures.
“HIA welcomes the opportunity to be part of the Housing Accord and identify ways to maintain a stable level of housing supply across the housing continuum, putting housing supply front and centre.
“A structural improvement in housing affordability can only be achieved for all Australians if the supply of housing is sufficient to meet the needs of the whole community.
“The Budget commitment of $10 billion to create the Housing Australians Future Fund which aims to deliver 30,000 social and affordable rental homes, has the capacity to bridge the housing deficit. The addition of a further 10,000 affordable homes in tonight’s Budget is an important extension of this commitment.
“HIA also welcomes the Budget commitment to progress the Government’s other key housing initiatives. Housing Australia must be a central agency responsible for delivering integration of the Commonwealth’s housing policies to improve the supply of social housing, affordable rental housing and private market housing.
“HIA looks forward to the formation of the National Housing Supply and Affordability Council. The Council must steer Housing Australia in the collection and reporting of housing data that shines a light on our progress towards the target of 1 million new homes.
“The Government’s housing commitments in the Budget tonight clearly recognise HIA’s call during the federal election to make housing a national priority.
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Increases to annual minimum wage
The Fair Work Commission handed down its Annual Minimum Wage decision today with a 4.75 per cent increase to the national minimum wage and modern award minimum wages.
Approvals reflect good momentum heading into 2026
“Building approvals ticked down by 3.4 per cent in April, including a 0.9 per cent decline for detached houses and a 7.2 per cent decline for multi-units,” stated HIA Senior Economist Tom Devitt.
Wage ruling will increase housing costs and hit small builders hardest
“The Housing Industry Association (HIA) is deeply concerned with today’s Fair Work Commission decision to increase the Minimum Award Wages by 4.75 per cent, which will make it harder to deliver new homes at the scale Australia urgently needs,” said HIA Managing Director, Jocelyn Martin.
NCC 2022 to continue in Tasmania until May 2027
The Tasmanian Parliament has passed the Building Amendment Bill 2026, confirming a revised approach to how the National Construction Code will apply in Tasmania.