The ACT recorded 197 dwellings approved in November, down from 668 in October, driven by a sharp pullback in higher-density approvals, with 128 dwellings approved excluding houses.
Property Council ACT & Capital Region Executive Director Ashlee Berry said month to month swings are becoming a pattern.
"We're regularly seeing volatile swings in approvals – a big month followed by a low month, and this makes it hard to build the consistent pipeline we need for delivery," Ms Berry said.
"Over the past six months the ACT has averaged 424 approvals a month, which is a useful improvement on the very low months. But the Territory still needs a more stable, investable pipeline if we want more homes on the ground, year after year.
Since the start of the Housing Accord, 4,579 dwellings have been approved in the ACT. Over the 12 months to November 2025, the ACT approved 4,096 dwellings.
Ms Berry said the ACT Government had made credible commitments on reform, but the test would be whether those reforms lift feasibility and speed consistently, particularly for higher-density projects.
"Government has listened to industry and is heading in the right direction – streamlining decision-making, reducing duplication and using technology to speed up approvals will all help," she said.
"But the biggest constraint remains feasibility. If projects don't stack up, approvals will keep swinging and delivery will keep falling short."
Ms Berry said Lease Variation Charge reform remains the critical lever for unlocking more supply.
"Recognition that LVC is undermining feasibility is important. Now we need the reform delivered at pace and in a way that genuinely brings projects forward," Ms Berry said.
Ms Berry said industry also wants the Developer Licensing scheme calibrated so it lifts standards without adding unnecessary cost and delay.
"The ACT has a real opportunity to turn reform into delivery. The priority is straightforward. Make more projects feasible, cut the time it takes to get them moving, and convert approvals into homes," Ms Berry said.
