Australia enters a new era for housing policy with the commencement of Housing Australia, following the passage of the Albanese Government’s housing legislative package. Housing Australia will oversee the delivery of social and affordable rental homes under the government’s $10 billion Housing Australia Future Fund and funds committed under the National Housing Accord.
This commitment is set to deliver 40,000 new social and affordable rental homes. Housing Australia will continue all current programs administered by the National Housing Finance and Investment Corporation, including the National Housing Infrastructure Facility (NHIF). The NHIF, which provides support through concessional loans and grants, received $575 million for social and affordable housing last year, with an additional $1 billion allocated this year.
Housing Australia will also be responsible for the recently expanded Home Guarantee Scheme, aiding eligible first homebuyers, regional Australians, and single parents with dependents to purchase homes with smaller deposits.
Julie Collins, Minister for Housing, expressed her excitement for this new era in housing policy, emphasizing Housing Australia’s critical role in helping Australians into homeownership and providing safe and affordable housing options.