19 December 2022

Housing Australia Future Fund draft legislation

The Albanese Government has today released draft legislation to establish the Housing Australia Future Fund, Housing Australia and the National Housing Supply and Affordability Council.

This is another step in delivering the Government’s ambitious housing election commitments.

The $10 billion Housing Australia Future Fund will provide ongoing investment returns to deliver new social and affordable homes as well as investments to address acute housing needs.

Returns from the fund will deliver the Government’s commitment of 30,000 new social and affordable homes in the fund’s first five years, including 4,000 homes for women and children impacted by family and domestic violence or older women at risk of homelessness.

The fund will also deliver the Government’s commitments to help address acute housing needs, including:

  • $200 million for the repair, maintenance and improvement of housing in remote Indigenous communities
  • $100 million for crisis and transitional housing options for women and children impacted by family and domestic violence and older women at risk of homelessness
  • $30 million to build housing and fund specialist services for veterans who are experiencing homelessness or at‑risk of homelessness

Minister for Housing Julie Collins said the draft legislation is expected to be introduced into the Parliament early next year.

“Having a safe and affordable place to call home is critical for Australians,” Minister Collins said.

“Our ambitious housing agenda will help ensure there will be a pipeline delivering new homes for Australians, and this fund will be a major component.

“This is a significant and long‑term investment, with returns being invested in new social and affordable housing across the country.”

The Government has also released draft legislation to create Housing Australia, and establish the National Housing Supply and Affordability Council to provide independent advice to Government.

“We want to ensure our investments are underpinned by expert advice,” Minister Collins said.

“The Council’s advice will be essential as we continue to deliver our ambitious housing agenda.”

The Council will also advise on the development of a National Housing and Homelessness Plan, which will be formulated in consultation with key stakeholders and set out what is needed to make it easier to buy a home, easier to rent, and reduce homelessness.

Interested stakeholders are encouraged to provide a submission on the draft legislation by 11 January 2023. Submissions can be emailed to housing@treasury.gov.au during the consultation period.