17 June 2023

Albanese Government delivers immediate $2 billion for accelerated social housing program


Joint media release with
The Hon Anthony Albanese MP
Prime Minister

Today the Albanese Government announces a new $2 billion Social Housing Accelerator to deliver thousands of new social homes across Australia.

This investment will build more housing, for more Australians, in more parts of our nation.

Because this Government knows a secure home will give more Australians the foundation for a better future.

The Social Housing Accelerator payment will be delivered to State and Territory Governments within the next two weeks. This will create thousands of homes for Australians on social housing waiting lists and will increase housing supply sooner, with all funding to be committed by states and territories within two years ending 30 June 2025.

The Albanese Government is committed to improving housing outcomes for Australians and this $2 billion initiative helps deliver on that commitment.

States and territories will have some flexibility in how they permanently boost social housing stock under the Social Housing Accelerator, including new builds, expanding programs, renovating or refurbishing existing but uninhabitable stock.

We know Australians want practical solutions, so we are getting on with the job.

Real dollars, driving real change and building more homes.

Premiers and Chief Ministers will ensure this additional investment in housing will work alongside better planning, zoning and land release.

It continues the work of the new National Housing Accord, a shared ambition to build one million new well‑located homes over five years from 2024, and builds on the work of National Cabinet on renters’ rights and planning reforms.

The Albanese Government will continue to work with State and Territory Governments to address housing affordability, supply, and homelessness.

The $2 billion in additional funding brings the Albanese Government’s investment in housing and homelessness to more than $9.5 billion in this financial year to 30 June.