THE ACT is predicted to fall up to 7100 dwellings short of the National Housing Accord targets, according to analysis by Master Builders Australia.

“When the Federal Government announced a national housing accord to build one million homes over five years it was applauded by state and territory governments, community and industry, however analysis by Master Builders Australia shows the ACT is on track to fall up to 7100 short of its share of the one million home building target,” said Michael Hopkins, the MBA’s ACT CEO.

“MBA analysis reveals that between 5800 and 6380 dwellings must be built every year for the next five years, however MBA Australia forecasts reveal that the ACT will fall 3720 dwellings short in the current financial year, totally a shortfall of up to 7100 over five years.

“The combination of high interest rates, stagnated land release and ’60s style planning rules have combined to create a housing shortage in Canberra like we’ve never experienced before. A shortage of housing leads to rapidly escalating house and rental prices, strain on our public and social housing system, and makes it harder to attract skilled workers to meet Canberra’s workforce shortages.

“To address our chronic housing shortage, the new Territory Plan should allow dual occupancies and other medium-density housing in RZ1 zones, increase height and medium-=density limits around centres and public transport nodes, and overhaul third-party appeal rights.

“Planning reforms such as those being advocated by the Master Builders Association are commonplace in modern cities across Australia, however current ACT planning rules prioritise housing built in the ’60s rather than facilitate redevelopment to keep up with changing demographics, demand for sustainable housing and our aging population.”