Urban Taskforce CEO, Tom Forrest, said today that everyone now agrees there is a supply crisis, and everyone says they are on board with the need for more housing supply to fix the crisis, but the numbers show that the pipeline of housing supply is dry.
With less than 100 days until the start of the National Housing Accord, which kicks in on July 1 this year, ABS housing approvals data for NSW for February 2024 showed no sign of improvement and should act as a wake-up call to the Albanese Government to allocate billions in next month’s budget to housing enabling water and roads infrastructure.
Key annualised data for the 12 months to February revealed, for the third month in a row, the worst performance in the last decade, with both detached housing and apartment approvals hitting decade lows. You can’t build new homes without building approvals, so the delivery pipeline is running dry.
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