Australia ‘needs’ to produce 1.2 million new houses over the next two years

Property Council of Australia CEO Mike Zorbas says the federal government needs to “apply a lot more cash” to state and local governments to unlock the housing supply. The cost of living crisis was one of the key issues in last night’s budget, with a major focus on increasing housing with billions of dollars allocated to the sector. “There could be more money, I say gratefully, you know the government is certainly doing the right thing, and previous governments have not done enough in this space,” Mr Zorbas told Sky News Australia. “We need to apply a lot more cash to local government, to state government, to help them unlock the housing supply. “We need to produce 1.2 million new homes, this is not a magic number, this is a need across all sectors, whether it’s social housing or market housing.”