“The Australian Government’s new target of 1.2 million homes over five years, from July 2024 is an increase of 200,000 homes above the one-million aspirational target set at the National Housing Accord in 2022,” said Jocelyn Martin, HIA’s Deputy Managing Director – Industry and Policy.

Victoria’s real estate peak body, the Real Estate Institute of Victoria, says it’s buoyed by the National Cabinet announcement to end any further consideration of rental caps and freezes. 

The REINSW Vacancy Rate Survey results for July 2023 show that residential vacancy rates in Sydney and much of regional New South Wales are once again tightening, underlining the fact that the availability of rental accommodation across the state remain at crisis levels.

Belle Property returns to The Block again this year, representing Kristy and Brett Beams, team red from South Australia in the series set on Charming Street, in Melbourne's Hampton East, Victoria.