The Albanese Labor government has announced a multi-billion-dollar investment plan as part of next week’s Budget to accelerate its comprehensive Homes for Australia plan.
The initiative aims to significantly increase the housing supply across the nation, with the Prime Minister highlighting the government’s commitment to keeping the Australian dream within reach.
Several key measures have been introduced to support the construction and availability of housing:
“This budget will provide an additional $1bn for social and emergency housing to support women and children escaping domestic violence and will ensure a new five-year funding agreement with states and territories for housing and homelessness,” Prime Minister Anthony Albanese (pictured above left) said.
Albanese further stressed the nationwide challenge of housing, calling for action from all levels of government.
Treasurer Jim Chalmers (pictured above center) highlighted the focus on housing in the budget.
“Housing is a big priority for the Albanese government, and it will be a big focus of the budget,” Chalmers said. “Australia needs to build more homes more quickly and that’s what this substantial investment will help to deliver.
Minister for Housing Julie Collins (pictured above right), said constructing more homes is crucial for addressing Australia's housing challenges, which is the core aim of the Homes for Australia initiative.
“Homes for Australia will turbocharge the construction of new homes right across the country and ease the pressure on Australians doing it tough,” Collins said.
Recognising the need for more construction workers to meet housing goals, the government has also dedicated $90.6m to boost the workforce, including offering 20,000 new fee-free places.
Additionally, new regulations will require universities to increase their supply of student accommodation, as part of efforts to alleviate pressure on the private rental market.
Minister for Education Jason Clare discussed the importance of supporting the international education sector with better accommodation.
“We need more purpose-built housing to support students in higher education and that’s what these reforms, developed in consultation with the sector, will help to drive,” Clare said.
This significant new investment adds to more than $25bn already pledged for housing over the next decade, including the $10bn Housing Australia Future Fund for 30,000 homes, a $2bn Social Housing Accelerator, a $3bn New Homes Bonus, a $5.5bn Help to Buy scheme, $2.7bn to boost Commonwealth Rent Assistance by 15%, and $2bn for more social housing.
These efforts support the Albanese government’s goal to build 1.2 million homes by the decade’s end to address the urgent need for more housing across the country.
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