Overview

• The Australian Labor government's goal of constructing 1.2 million new homes by mid-2029 is already behind schedule, with 90,136 homes completed in the first six months—30,000 short of the target pace.
• Housing Minister Clare O’Neil defended the 'bold and ambitious' target, emphasizing the need for high national ambition to address Australia's deepening housing crisis.
• Opposition shadow housing minister Michael Sukkar criticized the feasibility of the target, linking unaffordable housing to broader policy failures and declining to commit the Coalition to a similar goal.
• Construction industry leader Denita Wawn highlighted supply constraints, regulatory barriers, and a lack of shovel-ready land as critical challenges to meeting the target and easing housing costs.
• Historical data underscores the difficulty of achieving the target, as Australia has never built 240,000 homes annually, the pace required to meet the five-year goal.