Prime Minister Anthony Albanese remains confident in his government's plan to build 1.2 million homes by 2029 despite a recent dip in building approvals. He attributes the decrease to short-term fluctuations and highlights the government's initiatives to address housing supply challenges.
Prime Minister Anthony Albanese has defended his plan to deliver 1.2 million homes by 2029, rejecting claims that a fall in building approvals late last year could jeopardise progress. After fresh data showed a bigger-than-expected fall in building approvals, Albanese said both the federal government and state governments in NSW and Victoria were helping to improve housing supply.
“That’s why we put in place our Housing Australia Future Fund and housing accelerator to deliver increased social housing our build-to-rent legislation. Every single one of those measures was opposed by the Coalition.” While the number of approvals was 3.2 per cent higher in November compared to the same time in 2023, it remained at half the level from between 2015 and 2019.Albanese’s comments come as the major parties battle to win voters’ trust on housing, a key issue ahead of an election this year. Data from the Australian Bureau of Statistics released on Tuesday showed building approvals slipped 3.6 per cent to 14,998 dwellings in November. The Prime Minister dismissed the figure as a “month-to-month issue”, saying it was more informative to look at the annual change in approvals. “ the year-to-year data, there was an increase of more than 3 per cent. That’s a positive outcome ... that shows there are more approvals occurring.” Approvals fell 1.7 per cent for private sector houses and 10.8 per cent for other dwellings, including units, from October to November. While approvals were 3.2 per cent higher in November compared to the same time in 2023, they remained at half the level seen between 2015 and 2019. Soon after taking office, the government set a target of 1 million new homes to be built between mid-2024 and mid-2029. It hasin a bid to deal with spiralling house prices and rents. To meet its goal, Labor needs an average of 240,000 new homes built each year
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