‘Depressing’: Economist on Why Australians Should Not Expect the Housing Situation to Change

A senior economist says the 2024 budget will do little, if anything, to address housing issues in Australia.

The housing situation in Australia is likely to get worse before it gets better, says a top Australian economist.Andrey_Popov/Shutterstock

An Australian economist has described the country’s federal housing budget as “depressing.”

Handed down by Treasurer Jim Chalmers on May 14 evening, the 2024 budget promises big spending on housing, with the treasurer touting an “ambitious” plan for 1.2 million new home builds in five years.