The Albanese Government is getting on with the delivery of new social and affordable housing with up to $575 million in funding now available to help more Australians into homes.
The Minister for Housing Julie Collins this week signed a new investment mandate for the National Housing Infrastructure Facility (NHIF) to allow it to deliver social and affordable housing.
This fulfils the Government’s commitment made at September’s Jobs and Skills Summit and will support the Albanese Government’s efforts to build 40,000 new social and affordable housing properties through the $10 billion Housing Australia Future Fund and National Housing Accord.
The Minister for Housing made the announcement at the Treasurer’s Investor Roundtable where she highlighted new Government funding opportunities to support the building of social and affordable housing.
Minister Collins said the recent Jobs and Skills Summit had underscored the critical link between affordable housing and labour market participation.
“We understand how critical it is for Australians to have a safe and affordable place to call home,” Minister Collins said.
“Our Budget’s commitments on social and affordable housing ensure there will be a pipeline delivering new homes for Australians.
“But we understand we need to take immediate action which is why I’ve made these changes to the National Housing Infrastructure Facility.
The Albanese Government has an ambitious housing reform agenda including the expansion of the NHIF, the $10 billion Housing Australia Future Fund and the National Housing Accord.
Minister Collins said the Government was facilitating new collaborations between government, social and affordable housing providers and investors to increase the construction of social and affordable housing.
“I was able to announce a new partnership of exactly this kind this morning which will deliver affordable homes for key workers like nurses and cleaners at Westmead,” Minister Collins said.
The NHIF is an existing $1 billion facility administered by the National Housing Finance and Investment Corporation that provides concessional loans, grants and equity finance for housing‑enabling infrastructure such as electricity, gas, water, sewerage, stormwater, telecommunications and roads infrastructure. With the change announced today, it will be able to invest in social and affordable housing.
With current NHIF commitments, there is up to $575 million of uncommitted funding for its widened remit to invest in social and affordable housing and to continue investing in housing‑enabling infrastructure.