Believe it or not, Australia has built 1 million homes in the past five years. November 2, 2021 We're in the middle of a building boom that has led us to build roughly 200,000 homes each year for the last 5 years.
Budget’s pledge of 1 million homes — is it enough? Experts believe the sector was already able to achieve this over the past five years without stimulus. 26 Oct, 2022 The federal government is pledging to address the housing supply and affordability crisis by targeting to build one million well-located homes over five years starting 2024 — is this commitment enough to address the problems hounding the sector?
Federal budget 2022: A million new homes as part of a bold partnership – but there’s a big catch 26 Oct 2022 Labor’s flagship election promise – a shared equity scheme – also aims to help more people enter homeownership with a smaller deposit and smaller mortgage.
According to the Australian Institute of Health and Welfare, 163,000 are on a waiting list for public housing, and Census data shows 116,000 are homeless.
The most significant new housing measure in the budget was the announcement of a new Housing Accord, which aims to deliver one million new, well-located homes over 5 years from mid-2024.
Under the Accord, the Government will provide $350 million to deliver an additional 10,000 affordable dwellings – on top of the 30,000 already committed to during the election campaign through the creation of a Housing Australia Future Fund.
