Australia 124,000 homes short on track to miss housing target
Australia completed 355,817 of 480,000 homes needed by mid-2026 to reach its 1.2 million goal by 2029.
Australia's ambitious five-year housing target is slipping further behind. In the first two years since the National Housing Accord began in July 2024, the nation completed 355,817 homes but needed 480,000 to keep pace.
The shortfall is now 124,183 dwellings. The June quarter saw 47,168 homes built, below the required run rate of around 70,000 per quarter, though this beat the March quarter's 44,592.
New housing starts rose seven per cent in June to 52,201, with detached houses jumping 11.6 per cent. The total number of homes under construction climbed to a record 248,733.
The pipeline is strengthening even if the pace falls short of what is needed to reach the target by mid-2029.
- 1.2 million homes
- Target by mid-2029
- 124,183 homes
- Shortfall to date
- 248,733
- Homes under construction
- 45.8 billion dollars
- Quarterly construction value
Why it mattersAustralia is falling further behind on its key promise to ease housing shortage, though the strong pipeline suggests the pace could accelerate if conditions hold.
AustraliaFewer new homes than targeted means rental and purchase prices are likely to stay under pressure longer. The shortfall has grown from 78,000 to 124,000 homes in just one year.
✓ Claims checked against the source and corrected before publish. checked 1 h ago
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