Australia will build 1.2 million new homes in the space of five years as part of a new plan agreed to at national cabinet aimed at tackling the nation’s housing crisis.
Speaking after Wednesday’s meeting, Prime Minister Anthony Albanese said increasing supply was the key to addressing the housing and rental crisis, and remained firm on his opposition to introducing a cap or limit to the amount landlords can increase a tenant’s rent by.
National cabinet also agreed to the national planning reform blueprint, which Albanese said would include “planning, zoning, land release and other measures to improve housing supply and affordability”.
The 1.2 million homes is an extra 200,000 on top of the 1 million agreed to by the states and territories last year.
More to come.
