particularly in the housingsupply election.
New posts from Clare O’Neil highlight the Government’s plans to deliver 55,000 social & affordable homes through the #HAFF and Housing Accord, whilst also criticising the Coalition and Michael Sukkar’s record on social & affordable housing.
The current Federal Government has put major focus on the social and affordable end of the spectrum. Few question the need to deliver more affordable homes, and the Albanese government is certainly taking a stronger role in that space.
📊But I believe what is of greater importance is the total number of homes delivered rather than honing in on that segment alone.
So, what does the data say? Particularly in the face of a claim that the opposition would deliver fewer homes?
🤓According to Australian Bureau of Statistics Housing Commencements Data, stretching all the way back to the former Labor Government, there is a stark difference in new housing commencements which is your only real indicator for new supply.
The chart tells the story (with the 240k p.a.
#housingaccord target at the top): • ~145k starts p.a. through the Rudd/Gillard/Rudd years • ~200k through Abbott/Turnbull/Morrison • ~165k through Albanese so far
So you can argue there was less need for direct intervention through the former Federal government as the overall housing supply picture was substantially healthier.
(It’s also interesting to observe the stark drop off in unit starts since the national peak in 2016. Blame the States for that one.)
🤔 The most critical thing is to have all types of housing supply delivering to have a healthy overall housing market. What we are seeing instead at the moment is fragmentation to the lowest and and highest ends, with the mid–market completely hollowed out.
That’s why I continue to stress that the focus needs to be on things that unlock #feasible #housing supply across the spectrum.