Federal Treasurer Jim Chalmers has doubled down on Labor’s ability to build 1.2 million homes by June 30, 2029, after accidentally published advice from Treasury said the deadline would not be met. Source: News.com.au.
Partially unredacted files released to the ABC through a Freedom of Information request showed Treasury warning that the National Housing Accords would “not be met,” and suggested a review of Housing Australia, the national housing agency.
While Labor has committed to building 1.2 million well-located homes in the five years to June 30, 2029, the target is already 55,300 homes behind following its first year of operation.
Recent data compiled by the Institute of Public Affairs has also revealed that in the decade between 2014 to 2024, the time it took to build a freestanding home had increased 50 per cent, from 8.5 months to 12.7 months.
In the same period the cost of building materials had also soared by 53 per cent.
Despite the slow start, Mr Chalmers backed Labor’s ability to reach the target, adding that he was “pretty relaxed” about the accidental FOI slip.
“Under current trajectories, we would fall short. But that doesn’t mean that between now and over the course of the next four years, that we can’t consider ways and work with the states and territories and others, local governments and others, on ways to build more homes,” he said yesterday.
While he acknowledged the government needs to “do more” and “do better” to reach the 1.2 million figure, Mr Chalmers said the ambition was warranted given that housing was one of the “defining challenges in our economy”.
Acting Coalition housing spokesman James Paterson said the advice from Treasury has “confirmed what Australians already know”.
“Labor will fail to build the 1.2 million new homes they promised,” he said.
Housing Minister Clare O’Neil has previously vowed to cut red tape and regulation to supercharge the number of homes coming onto the market.
She said the Productivity Roundtable in August would help identify ways to improve planning policy.
FULL STORY
Jim Chalmers backs 1.2 million Housing Accords goal, says Australia needs ‘ambition’ to solve housing crisis (By Jessica Wang, News.com.au)
