In response, the Liberal-National opposition has proposed a A$5 billion infrastructure fund to enhance housing supply if they win the upcoming election.

Additionally, the BCA advocates for workforce changes, such as incentives for young Australians to enter trades and immigration policies to attract skilled workers.

The Albanese government has introduced various policies aimed at alleviating the housing shortage, including investments in social and affordable housing.

Many Australians are struggling with high rents and the inability to purchase homes, which is detrimental to national prosperity.

The rising costs of housing have forced some individuals to skip meals just to afford rent, illustrating the severity of the affordability crisis.

Overall, while the BCA supports existing measures, it insists that the magnitude of the housing crisis requires comprehensive reforms to meet housing targets.

However, some of these initiatives, like new Build to Rent incentives, face challenges in the Senate due to insufficient support from opposition and minor parties.

The BCA's recommendations include rezoning land for housing in desirable areas and expediting approval processes through new state powers.

This urgent call for reforms comes amid a significant housing supply crisis affecting many Australians.

BCA Chief Executive Bran Black highlighted a shortfall of approximately 64,000 homes annually, necessitating immediate action from all levels of government.

While measures are currently being implemented, Black emphasized that the scale of the housing challenge demands more extensive reforms.

The Business Council of Australia (BCA) has unveiled a comprehensive plan to tackle the nation's housing shortage as the country approaches an election.