Not even purely fiber to the node any more, they are going with a "multi-technology mix"[1]

So by the end of 2020, 98% to 100% of the population would have at least 25Mbps[2]. Which is maybe twice as fast as what we have now on average (as a guess).

It is also way behind schedule and over budget[3], when being quicker and cheaper were its main selling points against the FTTP solution proposed by the Labor government.

[1] http://www.theguardian.com/world/2014/apr/10/malcolm-turnbul...

[2]http://www.theguardian.com/technology/2013/dec/17/nbn-chairm...

[3]http://www.theguardian.com/technology/2013/dec/12/coalitions...