Australia Building Permits

Australia’s government has unveiled a set of urgent measures to accelerate home construction amid a deepening national housing crisis, Bloomberg News said. As of August 23, it will fast-track assessments for over 26,000 new homes and freeze further changes to construction laws to ramp up approvals. Artificial intelligence will be deployed to streamline implementation. The government also aims to unlock over AUD 8 billion in housing investment by easing restrictions on pension fund participation. Supply constraints have worsened due to a post-COVID lull in development pipelines and surging construction costs, which have driven many builders out of business. The reforms are designed to counter these pressures and boost housing availability nationwide.