Western Australia has fallen significantly short of its housing goals, building only 5,052 homes in the first quarter of the year, while needing to construct 6,500 each quarter to meet the National Housing Accord’s target of 1.2 million new homes by June 2029. Currently, the state is approximately 8,188 homes behind schedule, having completed just 45,500 homes since the Accord reporting period began in July 2024. This shortfall raises concerns about the housing supply crisis in WA, amidst increasing demand for affordable housing. The Property Council has highlighted the urgent need for state and federal governments to address these growing gaps in construction to avoid exacerbating the ongoing housing crisis.
Why It Matters
The National Housing Accord was introduced to tackle Australia’s housing shortage, aiming for a substantial increase in the number of new homes built. Historical data indicates that WA has consistently struggled to keep pace with housing demands, contributing to rising property prices and rental costs. The failure to meet these targets may lead to prolonged affordability issues, affecting the state’s economic stability and the welfare of its residents. Additionally, with population growth projected to continue, the need for adequate housing solutions becomes increasingly critical to ensure sustainable community development.
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