29 Jul 2026 - Behind the Facade

The financial year closed with more approvals than some feared, and fewer homes than the target asked for.

2025-26 dwelling approvals sat at 205,249. The Housing Accord path implied a higher number. The difference is now a planning input, not a surprise.

At the end of July 2026, Master Builders Australia put a simple figure on the last financial year. 205,249 new homes were approved in 2025-26. The path implied by the National Housing Accord sat higher than that.

June itself had been a better month for approvals, helped by higher-density work. One good month does not close a year.

Building a new home is substantially more expensive than it was before 2020. Jobs that looked possible at one price do not automatically proceed.

Carry one number forward

205,249 approvals is the year that just finished. Completions will lag. Price the lag.