National Housing Accord — 1.2 Million New Homes Target
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The National Housing Accord, agreed between the Australian Government, states, territories, and local governments in October 2022, sets a target of 1.2 million new well-located homes over five years from July 2024. The Accord recognises that housing supply, planning reform, and construction productivity are all required to meet the target.
The National Housing Accord was agreed at the National Cabinet meeting in October 2022 and formalised in the 2023–24 Federal Budget. The Accord sets a national target of 1.2 million new well-located homes over the five years from 1 July 2024 — an average of 240,000 new homes per year.
The Accord involves commitments from the Australian Government, state and territory governments, local governments, and the construction industry. Key elements include:
- A $3 billion New Homes Bonus for states and territories that exceed their share of the 1.2 million target
- A $500 million Housing Support Program for enabling infrastructure
- Planning reform commitments from states and territories
- Increased social and affordable housing delivery
- Recognition that construction productivity and modern construction methods are required to achieve the target
The Australian Government has also established Housing Australia, a new national housing agency, to support delivery of the Accord commitments.
The 1.2 million target represents a significant increase on recent housing completions. Industry bodies including the Housing Industry Association (HIA) and Master Builders Australia have noted that achieving the target will require substantial improvements in construction productivity, workforce capacity, and supply chain efficiency — areas directly relevant to the integrated platform model of Building Solution Australia.
Relevance to Building Solution Australia
The National Housing Accord's 1.2 million home target directly underpins demand for faster, more productive construction delivery — including prefabrication, modular construction, and integrated supply chain management of the kind Building Solution Australia provides.
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