Commonwealth Bank has partnered with Queensland-based modular home builder Oly Homes to nearly triple its output of prefabricated residential dwellings in a show of faith for the sector and as state and federal government housing targets hang in the balance.

Australia’s largest mortgage lender is funding the construction of a new 21,900 square metre factory on the Sunshine Coast for Oly Homes – set to be built in the second half of 2026. Once built, the factory will help lift Oly Homes’ annual average from 200 homes to about 550 a year.