CANBERRA, March 25 (Xinhua) -- None of Australia's eight states and territories are on track to achieve their share of a national goal to build new homes, according to a government report.
The National Housing Supply and Affordability Council on Wednesday released its first quarterly report on the agreement between federal, state and territory governments to build 1.2 million new homes in the five years to June 2029, revealing that the national target is tracking 12 months behind schedule.
It said that 219,000 new homes were completed in the first five quarters of the agreement, below the required rate of 280,000 in the same period.
On a nationwide basis, the report said that homes covering 25 percent of the target have received building approvals and 18 percent have been completed.
It said that the national target is on track to be met by June 2030.
The states of Victoria and Western Australia and the Australian Capital Territory were tracking best, the report said, and were expected to complete their share of the goal by September 2029.
The Northern Territory, Australia's smallest jurisdiction by population, is not expected to complete its target until after 2034.
Responding to the report, federal Housing Minister Clare O'Neil said that building approvals and commencements have increased 17 percent and housing construction times have reduced by 10 percent since the start of the national agreement.
She said in a statement that the industry has a "solid foundation" to navigate supply chain pressures emerging from the conflict in the Middle East. ■
