Australia Likely to Fall Short of 1.2 Million Home Target by 2030: Oxford Economics

This comes despite forecasts of a significant increase in building activities across Australia in the coming years.

A crane works next to an apartment building in Melbourne, Australia, on Aug. 7, 2018. William West/AFP via Getty Images

According to new Oxford Economics Australia forecasts, Australia is likely to fall short of its 2030 target of over 200,000 homes despite an increase in construction activity.

The economic forecasting agency has predicted that home-building across the country would pick up in the coming period as inflation subsides and government housing policies take effect.