Pre-fabrication and modular homes could help fill the housing shortfall following Federal Treasurer Jim Chalmers inaugural Budget speech, which announced a target of a million new homes over five years. 

Chalmers said an accord had been struck between the federal, state and territory governments and the private sector, including superannuation funds, to drive the housing initiative.

Housing affordability was one of the key pillars of the Labor government’s five point plan for addressing cost of living pressures in the economy as the nation grapples with ongoing inflation, which has hosed down any chance of a cash splash.