The Albanese Government is delivering more than $610 million to New South Wales to immediately begin boosting social housing stock.
Part of the $2 billion Social Housing Fund Accelerator payment, the funding will be provided to States and Territories within the next two weeks, and will deliver thousands of new social homes across Australia.
Funding has been allocated on a per capita basis with a minimum of $50 million allocated to each State and Territory.
This investment will build more housing, for more Australians, in more parts of our nation.
The Albanese Labor Government knows a secure home will give more Australians the foundation for a better future.
States and territories will have flexibility in how they permanently boost social housing stock, including through new builds, expanding existing programs, renovating or refurbishing existing but currently uninhabitable housing stock.
This will create thousands of homes for Australians on social housing waiting lists and will increase housing supply sooner, with all funding to be committed by States and Territories within two years ending 30 June 2025.
This continues the work of the new National Housing Accord, a shared ambition to build one million new homes over five years from 2024, and builds on the work of National Cabinet on renters’ rights and planning reforms.
The Albanese Government will continue to work with State and Territory Governments to address housing affordability, supply, and homelessness.
The $2 billion in additional funding brings the Albanese Government’s investment in housing and homelessness to more than $9.5 billion in this financial year to 30 June.
Prime Minister Anthony Albanese said:
“My Government is delivering $610 million to New South Wales, within the next two weeks, to immediately boost social housing supply.
“We know Australians want practical solutions, and we’ll work with the Minns Government to get on with the job of delivering more social housing.
“This is real dollars, driving real change and building more homes for Australians.”
Minister for Housing and Homelessness Julie Collins said:
“At every opportunity, the Albanese Government has added to our already ambitious housing agenda.
“This significant new funding will help build more of the rental homes that we know New South Wales needs.
“We could do even more if the Senate stopped blocking 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.”
| State | Funding |
|---|---|
| New South Wales | $610 million |
| Victoria | $496 million |
| Queensland | $398 million |
| Western Australia | $209 million |
| South Australia | $135 million |
| Tasmania | $50 million |
| Northern Territory | $50 million |
| Australian Capital Territory | $50 million |