AdvertisementPoliticsFederalProperty market Step up in home approvals – just as rates and tax changes hit Shane Wright July 30, 2026 — 1:59pm Save You have reached your maximum number of saved items. Share A A AThe largest number of building approvals in five years will struggle to make a dent in pent-up demand for new homes as signs grow the federal government’s property tax changes are weighing on the property market. At 205,000 homes, approvals were modestly above the estimated 190,000 needed each year to keep up with Australia’s population growth. This week’s June inflation figures showed housing construction costs climbing at their fastest annual rate in almost three years. Despite the improvement, the clearance rate is well below the 68.5 per cent rate achieved in the same week last year.