Federal government announces funding for 13,700 new social and affordable homes

The Australian government has approved funding for 185 projects that will deliver 13,700 social and affordable homes across the country through the Housing Australia Future Fund (HAFF) and National Housing Accord Facility (NHAF).

Prime Minister Anthony Albanese said, “The first round of funding under our Housing Australia Future Fund will deliver thousands of social and affordable homes across Australia for those who need it most.”

The initial projects will create over 4,200 social and affordable homes across all states and territories, including 1,300 homes for women and children escaping domestic violence and older women at risk of homelessness.

Housing and Homelessness Minister Clare O’Neil stated, “We want to reduce the stress of housing for Australians – the long waits on housing lists, the long queues for rentals, the out-of-reach deposit for first home buyers – we’ll reduce these issues if we build more houses, and that’s what these projects do.”

The funding is expected to support investment of up to $9.2 billion in social and affordable housing. The government aims to deliver more than one-third of the program’s five-year target of 40,000 social and affordable homes through this pipeline.

Matthew Kandelaars from the Property Council of Australia welcomed the announcement, describing it as “an important milestone in the delivery of much-needed social and affordable housing.”

Tom Forrest, CEO of Urban Taskforce Australia, called the investment “the biggest government investment in social and affordable housing in decades.” However, he emphasized the need for action at the state level to ensure the funding increases overall housing stock.

Forrest cautioned, “If governments focus their efforts exclusively on delivering ‘affordable housing and social housing’ while ignoring the planning, taxation, feasibility and administrative barriers that face housing supply more generally, they will fail in their quest to increase supply and make housing generally more affordable.”

The government plans to open applications for the second round of funding within the next six months.