Australia’s goal of building 1.2 million new homes by 2030 is now on track — but not without delays and turbulence. NSW alone may miss its target until March 2032, as uneven progress across states highlights the challenge. New federal tax changes, including the end of negative gearing for post-budget properties and revised capital gains discounts, combined with rising interest rates and global construction cost pressures, have thrown the housing market into uncertainty. Developers are bracing for financial risk as demand struggles to translate into actual builds. Yet, approvals and commencements have climbed since the National Housing Accord began, buoyed by planning reforms that boost density and unlock land — and construction price inflation has finally slowed. The government remains steadfast on its targets, pledging to clear regulatory hurdles, while a Senate inquiry gets underway to scrutinize policies and find solutions to lingering bottlenecks.
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