Alan Kohler

And according to your data, there's about 24,000, 25,000 demolitions per year.

So if you look at net housing, the housing accord period of five years from middle of 2024 to 29, what's the council's prediction of the number of net new dwellings that will be built over that period?

So you're saying that net dwellings over the five years of the accord period is 862,000.

Well, that's a long way short of the 1.2 million target, but we don't know, I suppose, whether the 1.2 million target is net or gross, do we?

Right.

But you're saying, the council's saying, that they're going to fall, what, 340,000 houses short over the five years?

Well, net dwellings are the relevant number, aren't they?

Yeah.

So what do you think?

I mean, well, let's look at the target for a minute.

The 1.2 million, was that, do you think, was that based on any, as far as you're aware, in any forecast of demand?

Or was it just a round number that they came up with?

And so the accord, I think, is largely focused on approvals, right?

So the states have come up with, the Commonwealth's got this number, and then they give it to the states, or they divide it up among the states, and the states then divide it up among local councils.

Is that, that's kind of the way it works?

Yeah, but is there a difference between approvals, which is what they're kind of talking about, and the amount of housing being constructed?

I mean, someone told me that there's 100,000 houses in New South Wales that have been approved but aren't getting built.

Is that kind of thing happening?

Yeah, that's right.

I mean, you're right.