State of the Nation’s Housing report shows why $10 billion Housing Australia Future Fund is needed

Today’s National Housing Finance and Investment Corporation’s ‘State of the Nation’s Housing 2022-23’ report shows the need for all Governments, industry and housing stakeholders to work together to improve housing outcomes for Australians.

It confirms that the proposed Housing Australia Future Fund will double the number of new social housing dwellings added to the stock each year for at least the five years from 2024, compared to the period between 2006 and 2021.

Minister for Housing Julie Collins said this confirms the Housing Australia Future Fund is an important policy to deal with Australia’s housing challenges.

“This report is another reminder that too many Australians are struggling to secure safe and affordable housing,” Minister Collins said.

“The findings highlight the need to pass legislation currently before the Parliament to establish the $10 billion Housing Australia Future Fund.

“The Fund will help deliver 30,000 new social and affordable homes in its first five years. It will create a secure, ongoing pipeline of funding for social and affordable housing over the long term.

“The Fund is on top of the Albanese Government’s existing action to deliver more housing for Australians in need.

“We’ve unlocked $575 million through the National Housing Infrastructure Facility to invest in social and affordable housing.

“We have brought state and territories, the Australian Local Government Association, investors and the construction sector together through a National Housing Accord that sets a shared ambition to build 1 million new homes over five years from 2024 to help increase supply.

“We recently committed $67.5 million to boost funding to states and territories over the next year to help tackle homelessness and $91.7 million over the next three years to help combat youth homelessness through the Reconnect program.

“And we are developing a 10-year National Housing and Homelessness Plan.”