Sky News Business Editor Ross Greenwood says the reaction from industry to the Albanese government’s housing target is that it is “almost unachievable”.
The forecasted increase for new housing approvals in January was four per cent, but the reality was just one per cent.
This means in the last 12 months, just 163,000 new dwellings were approved, which is a long way off the Albanese government’s target of 240,000.
“The reaction is the same as it’s always been, and that is that the target, ambitious though it might be, is almost unachievable,” Mr Greenwood told Sky News host Peta Credlin.
“The reason, as we’ve talked about before, is if you’re a builder or developer … they tell you, quite frankly, if you can’t make money or if you’ve got a significant risk of making money when you’re going into a building project, you simply don’t build – that’s the key.”
