Housing supply continues its collapse under Labor

Today’s horror ABS Building Activity data shows Labor’s housing targets are as dead as a doornail.

Dwelling completions declined in the March 2026 quarter. Completions are running at 173,000 per year. This is well short of the 200,000 houses built each year under the Coalition. And even further behind the 250,000 to 270,000 houses Australia needs annually, just to catch up for all the population and migration increases.

These terrible figures highlight again that Australia cannot afford Labor’s high inflation, low productivity economy or their $77 billion in new taxes. More taxes and more inflation means fewer homes. 

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Bizarrely, the Government intends for there to be fewer homes. By Labor’s own figures, their Budget will collapse supply by at least 75,000 dwellings over the next 10 years - through the combination of higher housing taxes, and kicking out the self managed super funds (SMSFs) from housing.

It’s no wonder Labor gave up on their 1.2 million housing target in the Budget and cut $2.3 billion from the incentive payments to the states and territories to reach the target.

Under Labor, construction sector productivity has been negative, labour costs have soared due to union favouritism, and confidence in the housing market has now collapsed.

Australia is closed for business. Despite spending billions on housing, Labor is taxing housing and everything else, imploding housing supply, and keeping migration levels high and untargeted. Australia needs more homes, lower taxes, more skilled workers directly linked to industry needs and less red tape.

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