The Albanese Government will deliver 21,000 new social and affordable homes in its largest tranche yet of the $10 billion Housing Australia Future Fund, despite less than 1000 homes having already been constructed. Source: The Australian.
By the end of the third round, the HAFF will have established agreements to build 40,000 new homes by mid-2029 – with a target of 55,000 homes delivered in-full – according to the government.
The third round of funding is expected to open in late January, and provides concessional loans and grants to community housing providers at reduced rates, as well as to state and territory governments.
Housing Minister Clare O’Neil said the government was supporting social and affordable homes “in every corner of our country”. The third round will include the introduction of a new regional and rural component.
A dedicated funding stream will also be made available for projects delivered by, or in partnership with, First Nations housing organisations.
A tenancy target of 10 per cent First Nations renters has also been set under the third round, as well as an accelerated application process and new delivery and co-investment partnerships with the sector and states and territory governments.
The Albanese Government hopes by offering concessional loans under the HAFF, it will reduce the borrowing burden on providers which is slowing down development.
But, officials revealed during Senate estimates only 889 homes have been constructed so far following the first and second funding rounds.
The former coalition government built 373 social and affordable homes over almost a decade in power.
The Albanese government hopes to build 1.2 million homes, including those under the HAFF, by mid-2029.
FULL STORY
More than 21,000 new homes in latest round of Albanese Government’s $10bn housing fund (By Nathan Schmidt, The Australian)
