that National Cabinet had agreed “to an ambitious new national target” for the National Housing Accord, with the federal government pledging $3 billion to meet the target of 1.2 million new homes being built by July 2029.
When announcing the policy, the Prime Minister described the changes as “the most significant reforms in a generation”.“You've got to have the labour. You've got to have the materials. And we've got… a skills shortage,” he said “And you set up this competition for the skills – the trades we have – between the housing industry, and in Victoria’s case the big building infrastructure generally.
Australia's immigration rate is on track to reach its highest level on record, with net overseas migration forecast to hit 400,000 people this year and Australia’s population expected to increase by 700,000 over the next two years.