More than 50,000 Australians helped into home ownership

The Albanese Government has helped more than 50,000 Australians into home ownership in the 12 months since the election.

This includes more than 6,000 Australians through the Regional First Home Buyer Guarantee since it was launched in October - three months ahead of schedule.

Places are still available under the Home Guarantee Scheme before the end of the financial year.

Minister for Housing Julie Collins said helping more Australians into home ownership was just one part of the Government’s ambitious housing agenda.

“We’ve got construction underway on affordable rental homes across the country, and concrete plans on building tens of thousands more,” Minister Collins said.

“We’re bringing together all levels of government to tackle housing issues from planning to rental reforms, and making sure housing and homelessness services providers are listened to as we plan for the future.

“But most importantly, we’re helping those who need it most. We’re delivering the largest increase in rent assistance in more than 30 years, as well as a $1.6 billion one-year extension of the National Housing and Homelessness Agreement with States and Territories.”

The Albanese Government’s ambitious housing agenda also includes:

  • The $10 billion Housing Australia Future Fund, the single biggest investment in social and affordable housing by a federal government in more than a decade, which will build 30,000 new social and affordable rental homes in its first five years.
  • In this year’s Budget, an additional $2 billion in financing to support more social and affordable rental housing by increasing NHFIC’s liability cap from $5.5 billion to $7.5 billion from 1 July 2023.
  • In this year’s Budget, an extra $67.5 million to states and territories to help tackle homelessness, as part of a $1.6 billion one-year extension of the National Housing and Homelessness Agreement.
  • In this year’s Budget, incentives to increase the supply of rental housing by improving taxation 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.
  • $350 million to deliver an additional 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 in social and affordable rental homes.