Just a couple of days after being chosen as the Shadow Minister for Housing and Homelessness, Senator Andrew Bragg has wasted no time in ripping in the federal government over its promise to solve the housing crisis.

The Liberal Senator said Australian Bureau of Statistics data which reveals overall dwelling approvals have dropped 5.7% this month is "further evidence Labor’s promise to build 1.2 million new homes is a dead duck".

Housing affordability nationwide was a key election issue in the lead-up to Anthony Albanese's comprehensive win over Peter Dutton a month ago and the issue is of particular concern in Kiama.

The local government area is one of the most expensive in Australia with figures last year showing Kiama's median dwelling value (houses and units combined) was $1,476,275, well above nearby areas Wollongong ($972,395), Shellharbour ($873,865) and Shoalhaven ($862,688).

"This new data indicates that Australia will get approximately 170,000 new houses in the year ahead, when we need around 250,000," Senator Bragg said.

"All of Labor’s housing policies have failed. The Housing Australia Future Fund still hasn’t built a single new home. The housing targets are a disaster. Labor can’t even pay the States to build houses.

"Labor won the election, but they have failed on housing, and we will expose this failure throughout this Parliament."

Senator Bragg has also gone on the front foot to blast the government for its "bureaucratic bottlenecks destroying investment and job opportunities".

"ABS data shows Australia’s 20-year average productivity growth is now at its lowest point in two decades. This decline in productivity is holding back wages, jobs, and long-term economic growth.

"The Australian dream of home ownership remains the cornerstone of the Coalition’s housing policy.

"Regrettably, Labor has almost killed this Australian Dream. Labor promised it would become a government property developer and it would become Australia’s largest mortgage insurance company. These are both very bad ideas.

"Labor’s signature housing policy The Housing Australia Future Fund built zero new houses last term, while ABS data shows the number of units and private sector homes being built is plummeting. Labor’s promise to build 1.2 million new homes is a pipe dream."