The ACT is on track for its worst year of housing approvals in nearly two decades, with new data showing little improvement from a record-low April. 

ABS building approvals data for May shows just 107 new dwellings were approved in the ACT – up  from 84 in April, but well below March’s figure of 681, and well under the 350 a month needed to meet the ACT’s National Housing Accord target. 

Property Council ACT & Capital Region executive director Ashlee Berry said that with only June  numbers remaining to be seen, total approvals for 2024–25 currently sit at just 2036. 

“The last time annual approvals fell this low was in 2005–06 – the alarm bells should be deafening,”  Ms Berry said. 

“We are looking down the barrel of a serious housing pipeline problem. 

“Approvals are falling off a cliff, projects are being shelved, and we’re on track for the lowest  housing delivery in 20 years. 

“The government says it wants more homes, but last week’s budget told a different story. You can’t  build confidence while you’re hiking taxes and rates and making it more difficult – not easier – to  build the homes Canberra needs. 

“We’ve got a housing system full of ambition but stuck in neutral. Projects aren’t stacking up. Builders and investors will be looking elsewhere.”