The Hidden Burden of Climate Disasters on Housing Supply The Australian government's efforts to address the housing shortage have been hindered by an invisible force: the increasing cost of repairing and rebuilding homes damaged by extreme weather events.
Between 2019 and 2023, the country spent $11. 3 billion on these repairs, a staggering sum that underscores how climate disasters are quietly draining resources away from building new homes.
According to the Insurance Council of Australia's annual report, declared catastrophes in 2025 damaged almost as many homes (145,392) as the total number of new homes completed that year (172,657).