New South Wales is on track to fall dramatically short of its housing targets, with new data revealing the state is hundreds of thousands of homes behind schedule despite a recent uptick in construction activity. The latest figures from the Australian Bureau of Statistics show just 44,900 new dwellings were completed in 2025 a one‑percent decline from the previous year and a staggering 39 percent below the 2018 peak. It marks the lowest annual completion rate since 2014.
The Urban Development Institute of Australia (UDIA) NSW warns that three consecutive years of stagnation could leave the state 150,000 homes short of its five‑year target if current trends continue. UDIA NSW chief executive Stuart Ayres said the state is already 30 percent of the way through the National Housing Accord period, yet nowhere near the pace required to meet demand.
Planning and Public Spaces Minister Paul Scully said the housing pipeline had “collapsed” under the former government, with projections showing completions would have fallen to just 36,000 a year by the end of its term. He argued the Minns government is now reversing that decline, building “consistent momentum” across approvals, commencements, construction and completions.
Scully pointed to a suite of landmark reforms including changes to planning legislation, the transport‑oriented development program, the low‑ and mid‑rise housing policy, and the establishment of a housing delivery authority as key drivers helping more projects move from planning to construction. “Each of these completions means a new home for a person or family in NSW,” he said.
But with demand surging and supply lagging, concerns are growing that affordability pressures will intensify unless the state can accelerate delivery at scale.
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