Treasurer Jim Chalmers will lead discussion by the nation's treasurer on housing, energy prices

The meeting, to be held virtually, will also include negotiations on the government's controversial plan to ease the financial pressure on households and businesses by capping gas and coal prices, providing $1.5 billion in targeted energy bill relief and boosting investment in renewables.

Treasurer Jim Chalmers said the first meeting of the year of the Council on Federal Financial Relations meeting would "progress work on some of the biggest economic challenges facing our nation".

The focus of much of the discussion will be on the implementation of federal government's National Housing Accord, which aims to foster the construction of a million new homes in five years from 2024.

A lack of affordable housing, whether for purchase or to rent, has become an acute social, economic and political issue.

Australian Bureau of Statistics figures show housing was the major driver of a record jump in living costs for families with a mortgage last year, reflecting the impact of a succession of interest rate rises as the central bank tightened monetary policy to tackle inflation.

But renters are also feeling the pain. Rental vacancy rates are at near-record lows and fierce competition between tenants has fueled a surge in rents.

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There is little sign of relief. Population growth is picking up as the nation's migration intake increases to address labour and skills shortages, while the supply of new homes is slowing.

Building approvals in December were down almost 4 per cent from a year earlier while borrowing to buy or build a new home plunged almost 30 per cent over the same period.

Under the housing accord, the federal government will provide $350 million for the provision of 10,000 homes, to be collectively matched by the states and territories.

The funding will be used to cover the gap between market and subsidised rents, which it hopes will provide an incentive for super funds and others to invest in social and affordable housing.

The treasurers' meeting will be used to discuss plans to implement the accord.

Minister for Women Katy Gallagher and Women's Economic Equality Taskforce chair Sam Mostyn will present at the meeting on ways to boost the economic participation of women.