🗞️Master Builders Australia Urges Action Amid Housing Crisis

white and red wooden house beside grey framed magnifying glass

The Australian Bureau of Statistics today released new building approvals data that further highlights the alarming state of the country's housing crisis. According to Shane Garrett, Chief Economist at Master Builders Australia, March marked the lowest number of approvals for new detached homes since July 2012, or nearly 12 years ago.

"Approvals for higher-density homes increased by 1.9% during the month, but this segment of the market still needs to grow more.

"Based on the results, only 161,500 new dwellings have been authorised in the previous year."

“These figures stand in sharp contrast to the yearly target of 240,000 new homes under the National Housing Accord," said Denita Wawn, CEO of Master Builders Australia.

breakline

Nothing is free like a free press. Give now to help sustain independent journalism in your community.

It's evident from recent events that there has never been a better moment to support local news. Donate now to help sustain independent reporting.

break line

"The Accord goes into effect in less than two months, and over the next five years, new home construction must increase by 50% from current levels if we are to have any chance of meeting this target.

"Too many barriers remain in the way of our efforts to accelerate home-building activity, even in the face of government determination to do so."

Projects are becoming unsustainable due to a number of factors, including persistent tradie shortages, delays in planning and licencing, strict changes in labour relations, inflation in material costs, ineffective regulation, unworkable lending practices, and risk allocation. ”We need to lower construction costs in order to facilitate the construction of new homes. A top priority in the next federal budget has to be this,” He said.

Got a News Tip?

Contact our editor via Proton Mail encrypted, X Direct Message, LinkedIn, or email. You can securely message him on Signal by using his username, Miko Santos.

breakline

More on The Evening Post AU

  • Get Evening Post Wrap - for nighly bite size news around Australia and the world.

  • Podwires Daily - for providing news about audio trends and podcasts.

  • Podwires Asia - for reporting on podcasting and audio trends in South East Asia

  • There’s a Glitch - updated tech news and scam and fraud trends

  • The Freeman Chronicle Podcast - features expert interviews on current political and social issues in Australia and worldwide.

  • That Podcast Exchange - This podcast is an insightful conversation with people at the top of their game and deconstructs them to find the tools, tactics, and tricks to help you achieve your dream goal as Podcast Manager.