This article is from the Australian Property Journal archive
AFTER an extended deadlock, Labor has secured support from the Greens in the Senate to pass the Albanese government’s signature $10 billion Housing Australia Future Fund (HAFF), which will be the single biggest investment in social and affordable housing in more than a decade.
Minister for Housing Julie Collins said the Albanese government confirms an additional $1 billion will be invested in the National Housing Infrastructure Facility to support new homes, which was the key to securing the Greens’ support.
“The government thanks the Crossbench in the House of Representatives and the Senate, including the Greens, for the constructive engagement over a number of months on this critical legislation,” Collins said.
“The passage of this legislation, along with the commitments made at last month’s National Cabinet, represents the most significant reforms to housing in a generation.
“We can’t fix a decade of little action from the Coalition overnight, but the Housing Australia Future Fund is a good start in delivering 30,000 new social and affordable rental homes for the most vulnerable in our society,” the minister said.
Despite the Liberals and the Nationals coalition voting against the bill, the bill is expected to pass with the support of independent Senators Jacqui Lambie, Tammy Tyrrell and David Pocock.
For their part, the Greens believed holding out over the past few months has paid off. Greens leader Adam Bandt adding that, “Pressure works.”
“The Greens have secured another $1 bn from the gov to be spent immediately on social housing, taking the total of additional funding won for public & community homes right now to $3 bn.
“To everyone who told us to pass this Bill in March, this is why we didn’t.” Bandt said.
“The Greens have just secured an extra $1 billion of direct immediate investment in public and community housing to be spent this year. Along with the $2 billion social housing accelerator, that means Greens pressure has secured 6 times what Labor wanted to spend on social housing,” Greens housing spokesperson Max Chandler-Mather said.
Minister Collins said the HAFF will deliver 30,000 new social and affordable rental 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.
Fund returns 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; and
- $30 million to build housing for veterans who are experiencing homelessness or at-risk of homelessness.
“This will mean more homes for key workers, more affordable homes for Australian renters, and more homes for those most in need,” Minister Collins said.
The announcement has been welcomed by the industry.
“Master Builders thanks the Greens, Senator Jacqui Lambie, Tammy Tyrrell and David Pocock who have come out to support the passing of the HAFF. The cooperation seen across all levels of government to prioritise tackling the housing crisis is a relief to many doing it tough.” Master Builders Australia CEO Denita Wawn said.
Property Council of Australia chief executive Mike Zorbas also welcomed the news.
“A wealthy, land rich nation like Australia should not have a housing deficit. This is welcome news for new social housing and housing supply in general.
“Now we must turn our attention to the unfinished business of improving our state planning systems so they can deal with the welcome influx of skilled migrants and students over the decade ahead,” Zorbas said.
