Labor, Greens open doors to lock in $10b housing fund

The government will invest an extra $1 billion in a National Housing Infrastructure Facility. (Dan Himbrechts/AAP PHOTOS)

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, which was held up by the Greens as lacking ambition and action on rental caps, is expected to pass parliament this week.

As part of the new deal, the government agreed to invest an extra $1 billion in the National Housing Infrastructure Facility.

Housing Minister Julie Collins said turning around challenges in the sector required long-term reform.

"It has always been for people - people who are waiting for social and affordable homes across this country," she told parliament on Monday.

The earnings from the fund will generate 30,000 social and affordable rental homes over five years.

Greens leader Adam Bandt said the $1 billion in extra spending for the infrastructure facility came on top of $2 billion previously promised by the government to pass the bill.

"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 say they will 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 CEO 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," she said.

Property Council chief Mike Zorbas said it was time to improve state planning systems to deal with the welcome influx of skilled migrants and students.

“A wealthy, land-rich nation like Australia should not have a housing deficit,” Mr Zorbas 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," he 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.

License this article

What is AAPNews?

For the first time, Australian Associated Press is delivering news straight to the consumer.

No ads. No spin. News straight-up.

Not only do you get to enjoy high-quality news delivered straight to your desktop or device, you do so in the knowledge you are supporting media diversity in Australia.

AAP Is Australia’s only independent newswire service, free from political and commercial influence, producing fact-based public interest journalism across a range of topics including politics, courts, sport, finance and entertainment.

What is AAPNews?
The Morning Wire

Wake up to AAPNews’ morning news bulletin delivered straight to your inbox or mobile device, bringing you up to speed with all that has happened overnight at home and abroad, as well as setting you up what the day has in store.

AAPNews Morning Wire
AAPNews Breaking News
Breaking News

Be the first to know when major breaking news happens.


Notifications will be sent to your device whenever a big story breaks, ensuring you are never in the dark when the talking points happen.

Focused Content

Enjoy the best of AAP’s specialised Topics in Focus. AAP has reporters dedicated to bringing you hard news and feature content across a range of specialised topics including Environment, Agriculture, Future Economies, Arts and Refugee Issues.

AAPNews Focussed Content
Subscription Plans

Choose the plan that best fits your needs. AAPNews offers two basic subscriptions, all billed monthly.

Once you sign up, you will have seven days to test out the service before being billed.

AAPNews Full Access Plan
Full Access
AU$10
  • Enjoy all that AAPNews has to offer
  • Access to breaking news notifications and bulletins
  • Includes access to all AAPNews’ specialised topics
Join Now
AAPNews Student Access Plan
Student Access
AU$5
  • Gain access via a verified student email account
  • Enjoy all the benefits of the ‘Full Access’ plan at a reduced rate
  • Subscription renews each month
Join Now
AAPNews Annual Access Plan
Annual Access
AU$99
  • All the benefits of the 'Full Access' subscription at a discounted rate
  • Subscription automatically renews after 12 months
Join Now

AAPNews also offers enterprise deals for businesses so you can provide an AAPNews account for your team, organisation or customers. Click here to contact AAP to sign-up your business today.

SEVEN DAYS FREE
Download the app
Download AAPNews on the App StoreDownload AAPNews on the Google Play Store