Latest news with #SusanLloyd-Hurwitz
AU Financial Review
20-05-2025
- Business
- AU Financial Review
The 262,000-home shortage Australia needs to fix
Lower interest rates and stable costs are improving affordability and lifting supply but Australia is on track to fall 262,000 homes short of its five-year target, the National Housing Supply and Affordability Council says in its State of the Housing System 2025 report. The 938,000 homes the country is forecast to build over the period to June 2029 is up from a forecast 903,000 new homes the federal government's advisory council made two years ago and reflects cyclical improvements in the economy, council chair Susan Lloyd-Hurwitz said. But the revised forecast total still falls short by 262,000 of the 1.2 million new homes the federal government has pledged to deliver the next five years.
Sydney Morning Herald
20-05-2025
- Business
- Sydney Morning Herald
Albanese vowed to build 1.2 million homes. His own agency shows him falling well short
Australia remains in the grip of a housing crisis, with Prime Minister Anthony Albanese on track to fall 262,000 short of his 1.2 million target for new homes by the end of the decade, the government's own independent adviser on the sector has warned. In a damning report, the National Housing Supply and Affordability Council has used its annual report into the state of the industry to argue all levels of government need to find ways to free-up more land, slash construction costs and overhaul taxes that are restricting new building. NSW alone is expected to fall 130,000 homes short of its share of the 1.2 million target, the centrepiece of the government's Housing Accord, while Victoria is forecast to be just 6000 short. Policies to boost home construction were a key part of the recent election campaign, in which Labor promised to reduce required deposits for first-time buyers to just 5 per cent of a property's asking price. It is also pledging to pump $10 billion into building 100,000 properties for first home buyers. But council chair Susan Lloyd-Hurwitz said an urgent, concerted effort by government and industry was needed to find new ways to deliver affordable housing. 'The Australian housing system remains far from healthy and is continuing to experience immense pressure,' she said. 'The nation is still very much in the grips of a housing crisis that has been decades in the making through our persistent failure to deliver enough homes to meet demand. 'For many Australians right across the country, the ability to access an affordable, fit-for-purpose and secure home remains a challenge, if not out of reach entirely, and is a source of significant stress.'
The Age
20-05-2025
- Business
- The Age
Albanese vowed to build 1.2 million homes. His own agency shows him falling well short
Australia remains in the grip of a housing crisis, with Prime Minister Anthony Albanese on track to fall 262,000 short of his 1.2 million target for new homes by the end of the decade, the government's own independent adviser on the sector has warned. In a damning report, the National Housing Supply and Affordability Council has used its annual report into the state of the industry to argue all levels of government need to find ways to free-up more land, slash construction costs and overhaul taxes that are restricting new building. NSW alone is expected to fall 130,000 homes short of its share of the 1.2 million target, the centrepiece of the government's Housing Accord, while Victoria is forecast to be just 6000 short. Policies to boost home construction were a key part of the recent election campaign, in which Labor promised to reduce required deposits for first-time buyers to just 5 per cent of a property's asking price. It is also pledging to pump $10 billion into building 100,000 properties for first home buyers. But council chair Susan Lloyd-Hurwitz said an urgent, concerted effort by government and industry was needed to find new ways to deliver affordable housing. 'The Australian housing system remains far from healthy and is continuing to experience immense pressure,' she said. 'The nation is still very much in the grips of a housing crisis that has been decades in the making through our persistent failure to deliver enough homes to meet demand. 'For many Australians right across the country, the ability to access an affordable, fit-for-purpose and secure home remains a challenge, if not out of reach entirely, and is a source of significant stress.'
