Home building falls to almost 30 per cent below Government's target
Australia built 197,340 homes in the 12 months to March, nearly 30% below the government's 240,000-per-year target needed to reach 1.2 million new homes.
197,340 new homes commenced in the 12 months to March, against the 240,000 annual target needed to hit 1.2 million homes.
How far behind is Australia on its 1.2 million homes target and what does it mean for tradies?
Builders and allied trades face ongoing uncertainty as the construction shortfall signals weaker forward work pipelines for building, carpentry, plumbing and electrical contractors.
Key takeaways
- Only 197,340 homes started construction in the year to March, well short of the 240,000 annual target.
- The shortfall is nearly 30% below what's needed to meet the government's 1.2 million homes goal.
- Fewer housing starts means less forward work for builders, plumbers, electricians and other trades.
- The data comes from HIA's Senior Economist, signalling ongoing pressure on housing supply targets.
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