This article is from the Australian Property Journal archive
MORE social and affordable rental homes will be delivered across the country with an additional $2 billion in financing made available by the federal government.
The new financing will be available from 1 July 2023, after an amendment to the National Housing Finance and Investment Corporation’s (NHFIC) investment mandate direction was signed by minister for housing, Julie Collins.
The amendment has increased NHFIC’s liability cap from $5.5 billion to $7.5 billion and will enable more low cost and long‑term finance to community housing providers through the Affordable Housing Bond Aggregator.
This $2 billion increase is anticipated to support around 7,000 additional social and affordable dwellings.
“We could do even more if the Senate backs our $10 billion Housing Australia Future Fund ‑ the single biggest investment in social and affordable rental housing by a Federal Government in more than a decade,” said Collins.
The $10 billion Housing Australia Future Fund would be the single largest investment into social and affordable housing by a federal government in more than a decade and would see 30,000 new rental homes delivered in its first five years.
“Creating this secure pipeline of funding for the long term would be a turning point for housing in this country,” added Collins.
The federal government’s latest budget committed an extra $67.5 million to states and territories to help tackle homelessness, as part of the $1.7 billion one‑year extension of the National Housing and Homelessness Agreement.
While also creating incentives to increase the supply of rental housing through changes to taxation arrangements for investments in build‑to‑rent accommodation.
With the Home Guarantee Scheme, which has now supported 100,000 Australians into home ownership, also being expanded.
