According to The Australian Financial Review, the supply of new homes will crash to the lowest level in over a decade by 2026, worsening housing and rental affordability, and leaving the federal government far short of its goal to build 1.2 million homes by mid-2029.
Across capital cities, 79,000 new homes will be finished in 2026, a drop of 26 per cent compared with last year due to planning bottlenecks, labour shortages and soaring material costs. https://www.afr.com/property/residential/new-housing-supply-to-hit-decade-low-20240318-p5fd6t
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