Anthony Albanese announces target to build 1.2 million new homes in Australia | 7NEWS

Australian Prime Minister Anthony Albanese came out of the national cabinet with a new target: to build 1.2 million homes to ease the housing crisis. Prime Minister Albanese announced several initiatives that will target acceleration of housing supply, including announcing an increased target of building 1.2 million new homes over 5 years from July 2024 onwards, a $3 billion New Home Bonus for states and territories that overperform on their share of the new home target, a Housing Support Program of $500 million targeted to local and state/territory governments to help with the “last mile” on projects to build housing and enabling infrastructure.

Max Shifman, the National President of UDIA (Urban Development Institute of Australia), commented on this: “These are a suite of serious reforms that, if implemented properly, give us the best chance yet of delivering affordable homes and reasonable rentals.”

UDIA believes that the housing affordability challenge can be solved with initiatives like these that harness the capacity of the development and construction industry, and Government alike. Think long-term and act on fundamental principles. As a member of the UDIA, Swoopland will actively respond to national policies, strive to solve the problem of housing supply issues, and deliver high-quality house and land projects in the coming years.