THOUSANDS more social and affordable homes will be built after the Labor government struck a deal with the Greens to pass the $10 billion Housing Australia Future Fund.
The Bill, held up by the Greens as lacking ambition and action on rental caps, was expected to pass parliament this week.
Earnings from the fund aimed to generate 30,000 social and affordable rental homes over five years.
As part of the new deal, the government agreed to invest an extra $1 billion in the National Housing Infrastructure Facility for more immediate housing relief.
Greens leader Adam Bandt said this was on top of $2 billion previously promised by the government for the facility.
“That is $3 billion for public and community housing that the government initially said they could not find,” Mr Bandt said.
Treasurer Jim Chalmers said building more homes and increasing the supply of affordable housing would put downward pressure on inflation.
“This is another way we are addressing the serious cost of living pressures people are facing,” he said.
The Greens said they would not give up their fight for rent caps and a national rent freeze.
“There is legislation still to come during the course of this parliament,” Mr Bandt said.
“The Greens are in the balance of power and … we’ve just learnt from the course of this year, a strong community campaign where renters find their voice gets results.”
Master Builders Australia chief executive Denita Wawn thanked the Greens and senators Jacqui Lambie, Tammy Tyrrell and David Pocock for guaranteeing the passage of the bill.
“Passing this legislation is imperative to delivering the National Housing Accord target of 1.2 million new, well-located homes in the next five years,” Ms Wawn said.
Opposition housing spokesman Michael Sukkar said the infrastructure facility, rather than a new fund, was the best way to make investments in housing.
“The Coalition will not be supporting the establishment of the HAFF, which is merely $10 billion in additional Commonwealth Government borrowing that cannot guarantee, and will not deliver, a single home before the next election,” Mr Sukkar said.
Earnings from the fund will go to crisis housing for women and children leaving domestic violence, improving housing in Indigenous communities, specialist services for veterans and frontline worker accommodation.
Earlier on Monday, independent MP Helen Haines introduced a Bill aimed at “unlocking” social and affordable housing in rural and regional areas.
The bill would amend the National Housing Finance and Investment Corporation Act to ensure at least 30 per cent of funding goes to regional, rural and remote areas.
“With almost 30 per cent of the population living outside major cities, regional Australians deserve their fair share of housing funding,” she told parliament.
Push to address regional needs
THE Regional Australia Institute is backing the proposal to see regional, rural and remote Australia assured an “equitable” distribution of the Federal Government’s $10 billion housing fund.
RAI chief executive Liz Ritchie said rental availability in many regional towns was at, or below, 1 per cent.
“A lack of housing is at the centre of the region’s record workforce shortages, in which demand is most acute for GPs, nurses, aged-care workers and early childhood educators,” Ms Ritchie said.
“Research by the RAI reveals one in five capital city Australians aspire to make the move to the regions and in fact, our recently released Big Movers 2023 report revealed millennials, those aged between 29 to 39, are moving in record numbers.
“Limited housing options threatens to put a handbrake on regional Australia’s population growth at a time when we badly need more people.”
Ms Ritchie said the Bill introduced by Ms Haines “acknowledged the challenges many regional and remote local governments faced when bringing new land to development”.
“Unlike metropolitan (councils), land availability for regional councils is often not the problem, it’s the cost of completing the necessary headworks such as sewerage, water, electricity, transportation and roads,” Ms Ritchie said.
