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

Key points

• Australia is nearly 130,000 new homes short of its 1.2 million target under the National Housing Accord, with just 355,817 homes built in two years. The Housing Industry Association estimates this shortfall has cost the economy $45 billion and 43,455 essential worker jobs.
• Victoria and New South Wales have built fewer homes in the past two years compared to the previous period, while South Australia, Western Australia, and Queensland have seen increases.
• Industry groups warn that population growth is outpacing housing supply, and recent policy changes may further reduce new home building.