Sydney Panel Approves 45,000 New Homes Amid Housing Supply Pressure

Australia is facing a severe housing affordability crisis across multiple states, with governments taking steps to address the issue amid rising prices and supply challenges. Tasmania is implementing an independent review's 20 recommendations to enhance Homes Tasmania's focus on delivering social and affordable housing, aiming for 10,000 new homes by 2032. In New South Wales, the Housing Delivery Authority has fast-tracked over 100 major housing proposals to accelerate supply, particularly in Sydney's growth corridors, but development hurdles remain. Queensland's Brisbane market has seen median house prices near $1 million, making home ownership unattainable for most wage earners, with regional areas also experiencing significant price increases. Similarly, Adelaide has become Australia's second least affordable city due to surging property prices, pricing out first-time buyers and driving a shift toward more expensive units. These challenges reflect systemic issues in housing policy and market dynamics that are squeezing affordability and accessibility for many Australians.