It’s good to finally have a government serious about housing — albeit not serious enough to fix the structural problems that have locked so many Australians out of owning a home and, increasingly, renting one.
This week’s budget contains multiple housing initiatives — some the implementation of election commitments, others, like the National Housing Accord, entirely new. They’re all in the service of an “aspirational target of 1 million new, well-located homes over five years from 2024”.
That target isn’t impossible — we’ve been building 200,000-plus dwellings a year at various points in recent years — but it’s roughly what we’ll need to keep up with projected demand, and maybe not enough if we let immigration rip again like the government proposes to do and business desperately wants.
Handpicked for you
Budget 2022: “How is that going to make a dent?” and other startup reactions
COMMENTS
Reader comments will be back online shortly. In the interim send us any tips or feedback via news@smartcompany.com.au.