Building approvals surged in June, up 7.2% to over 18,000 dwellings — a rebound after May’s dip, especially in private housing (excluding houses, up 18%). House approvals rose just 0.4%, but for the sixth straight month, over 10,000 houses got the green light. Year-to-date, 205,000 properties were approved — a 9.2% jump from last year, the highest since 2020-2021. Yet, we’re still falling short of the 253,000 homes needed annually to meet national targets — missing the mark for the second year. The uptick is driven by higher-density housing, but experts warn approvals are just the first hurdle — construction and completion are the real challenges. Policy shifts like restricting negative gearing and adjusting capital gains tax may be influencing prices and inflation, alongside interest rates. The path to meeting housing demand remains long and complex.
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