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.
Related
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The Federal Government has agreed to delay the ATO's proposed ban on credit card payments for tax debts. The Housing Industry Association welcomed the move, which gives builders and tradies more time to prepare.
Why it matters: Builders and tradies who pay ATO bills by credit card keep that option for now. This gives them time to adjust cash flow and find other ways to pay tax obligations.
ATO payment change adds mounting pressure on home builders
The Housing Industry Association wants the ATO and Federal Government to reverse a decision to stop accepting credit card payments from 30 November. HIA says the change adds financial pressure on home builders.
Why it matters: Builders and other contractors who use credit cards to manage cash flow on tax bills may lose that option. This could tighten working capital for small building businesses.
Coalition migration measures recognise housing supply depends on workforce capacity
The Housing Industry Association has welcomed the Coalition's commitment to a skills-first migration approach and a dedicated construction visa strike team. It says the measures recognise that housing supply depends on workforce capacity.
Why it matters: Builders and other residential construction trades could see faster access to skilled migrant labour if the commitments are delivered. This may ease labour shortages, but it remains a policy commitment, not law.