Australia Set to Miss Housing Target by 166,000 Homes: Report

Productivity in the industry has fallen 18 percent over the last decade owing to workforce shortages, according to a report by Master Builders Australia.

A roofer works on a new home in Albany, Western Australia, on July 5, 2024. Susan Mortimer/The Epoch Times

Data released by Master Builders Australia on Sept. 9 revealed that the federal government is expected to miss the National Housing Accord target of building 1.2 million new homes by July 2029.

The report indicates that, at the current rate, only 1.03 million homes will be built within that timeframe, resulting in a shortfall of 166,000 homes.