Australia’s housing goal faces $15.2 billion cost surge, raising doubts about affordability reforms amidst global cautionary lessons.

Australia’s ambitious plan to build 1.2 million new homes by 2029 is under pressure, with projected costs now soaring to $15.2 billion—$3.8 billion higher than Treasury forecast last year. The surge has raised serious questions about whether the target is achievable and what reforms could actually make housing more affordable.

Terry Ryder from Hotspotting explains how construction bottlenecks, labour shortages, and rising materials costs are slowing progress. He also warns that first-homebuyer grants may be ironically pushing prices higher rather than helping, and that deregulation and skilled migration could be crucial to achieving housing goals.

Looking overseas, failed housing strategies in the US, UK, Canada, and New Zealand offer cautionary lessons for Australia. Ryder highlights how these challenges will not only affect first-time buyers but also investors and broader property market confidence, making reform urgent if the housing crisis is to be addressed.

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New report reveals 25 Australian suburbs offering strong rental growth, affordability, and investment potential

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The list includes regions from New South Wales, the Northern Territory, Queensland, Tasmania, and Victoria.

These selections are based on solid fundamentals, including strong local economies, infrastructure investments, and low vacancy rates, according to Hotspotting General Manager Tim Graham.

The report emphasises the potential for cashflow-positive outcomes without sacrificing long-term capital growth.

“These are not speculative picks,” Hotspotting General Manager Tim Graham said.

“They’re backed by real fundamentals, including strong local economies, infrastructure investment, and low vacancy rates.

“We’re identifying locations where investors can achieve cashflow-positive outcomes without sacrificing long-term capital growth.”

Strong Markets

Examples include Park Avenue in Rockhampton, which experienced a 29.1% annual price increase, and Lismore in New South Wales, surging 26.8% despite flood recovery efforts. Washington Brown Director Tyron Hyde notes that these markets are resilient and attract strategic investors focused on long-term growth rather than short-term returns.

“These markets are resilient, affordable, and on the move,” Mr Hyde said.

“They’re attracting investors who are thinking strategically and not just chasing short-term returns, which is always a bad idea.”

Regions like Victoria’s Red Cliffs and Mooroopna, as well as Northern Territory’s Moulden and Rosebery and Tasmania’s Ravenswood, signify a shift towards regional centres with increasing demand and infrastructure development.

“New book reveals politicians’ policies inflate property values, making homes less affordable; insights for buyers from Terry Ryder.”

Politicians often speak about housing affordability, but a new book reveals how their policies are in fact fuelling higher property values and making homes less affordable. Terry Ryder from Hotspotting joins to discuss his new book Why Property Values Rise.

We explore what politicians really want when it comes to property prices, how location myths mislead buyers, and why luxury features like pools or prestige suburbs aren’t what really drive value.

Ryder also explains how constant change shapes the housing market, what myths investors should ignore, and the key insights every buyer needs to know.