Yesterday, I posted about the first 10 Months of the Housing Accord period nationally. Unsurprisingly, the Australian approval figures are falling well short of targets.
Meanwhile, the Victorian Government is out pretending they are doing amazing, being on-target to hit 98% of their goal.
Is that really true?
This Australian Bureau of Statistics data tells the story. Dwelling #approvals in the first 10 months of the accord period are averaging 4,750/mth – 85% of the Accord target need of 5,610. This is an improvement from the ~2 prior financial years, but still short.
But if you consider what Victoria’s fair share should be based on population growth rates (analysis here: https://lnkd.in/gG73QeJF) they are closer to 72% of the approvals required.
Or, if you take the Victorian State Government’s own 80,000 p.a. new dwellings target, it’s achieving 65%!
🤔One can pretend all they want, but this is not a pretty picture. As long as the focus is solely on planning for future high-density activity centres, at the expense of unlocking #feasible housing supply and tackling the real issues (mainly construction costs), things will get worse for Victorians.