The Property Council is kinda happy with the slight uptick in dwelling approvals:

Australia has approved 54,156 fewer homes than needed in the first year of the Housing Accord target of 1.2 million new homes by 2029, but new Australian Bureau of Statistics (ABS) approvals data released today shows signs of solid improvements.

According to ABS data, a total of 185,844 homes were approved across FY24/25, in original terms. This is fewer than the 240,000 homes we need to approve at a minimum each financial year to hit our targets.

However, this is 22,152 higher than the previous financial year, a 13.5 per cent increase.

There has also been a rise in the number of apartment approvals, with 42,387 new apartment dwellings approved in the FY24/25. This is a 42.1 per cent rise from 29,826 in 2023-24.