Master Builders Australia (MBA) CEO Denita Wawn says the nation’s construction industry is not building enough new homes to meet demand.
The MBA has forecast that just 169,630 new homes will be built nationwide in 2022-23, well below the 200,000 that are needed each year to meet population demand.
The MBA does not expect the annual new home build to reach the 200,000 threshold until 2026-27. The MBA’s forecasts cast doubt on the Albanese Government’s target of one million new homes in the five years from July 2024.
