Government Welcomes New Support for $10 Billion Housing Australia Future Fund

The Albanese Government welcomes new support for the Housing Australia Future Fund from the Jacqui Lambie Network and calls on all Senators to back this important investment in social and affordable rental housing.

Changes announced today will ensure all states and territories benefit from the Government’s housing agenda, including the Housing Australia Future Fund.

The floor announced today in Housing Australia’s investment mandate will see it take all reasonable steps to make available a minimum of 1,200 dwellings in each state or territory over the first five years of the Housing Australia Future Fund.

This will ensure no state or territory misses out on dwellings under the Albanese Government.

We won’t repeat the mistakes of the previous government. No state or territory should miss out on desperately needed homes.

It’s now time for all Senators to back the $10 billion Housing Australia Future Fund - the single biggest investment from a Federal Government in social and affordable housing in more than a decade. Senators can’t say they support more social and affordable housing but oppose this fund.

The Fund is backed by numerous stakeholders, including housing experts, community housing providers, and Housing Ministers from across the country, and today Senator Jacqui Lambie and Senator Tammy Tyrrell have given their support.

This fund will ensure a secure, ongoing pipeline of funding for social and affordable rental housing.

Returns from the Housing Australia Future Fund will help deliver the Government’s commitment of 30,000 new social and affordable rental homes in the fund’s first five years.

This includes 4,000 homes for women and children impacted by family and domestic violence or older women at risk of homelessness.

The Housing Australia Future Fund is part of the Government’s election commitments. Since coming to office, the Government has built on these commitments:

  • Next week’s Budget will provide an additional $2 billion in financing for more social and affordable rental housing by increasing the guaranteed liabilities of Housing Australia.
  • Next week’s Budget will offer incentives to increase the supply of rental housing by improving arrangements for investments in build-to-rent accommodation.
  • A new National Housing Accord, a shared ambition to build one million new well-located homes over five years from 2024.
  • Investing $350 million in additional federal funding to deliver 10,000 affordable rental homes over five years from 2024 as part of the Accord.
  • Widening the remit of the National Housing Infrastructure Facility, making up to $575 million available to invest immediately in social and affordable rental homes.
  • Providing an extra $67.5 million to states and territories, through the National Housing and Homelessness Agreement in 2023-24, to help tackle homelessness.

The Government will prioritise this legislation in the Senate next week and will seek to pass it before the Senate rises.