The Albanese Labor Government’s Homes for Australia plan will deliver significant new funding across the country to build more homes with a new national housing agreement beginning on 1 July.
As part of the new 5-year National Agreement on Social Housing and Homelessness which starts on 1 July 2024, states and territories will share in $9.3 billion.
The funding will help to combat homelessness, provide crisis support and build and repair social housing.
This new agreement includes a doubling of Commonwealth funding for homelessness, which state and territory governments must match.
States and territories will also share in a further $1 billion outside of the agreement directed towards crisis and transitional accommodation for women and children fleeing domestic violence, and youth, through Housing Australia.
The Albanese Labor Government will also help nearly 1 million Australian households with the cost of rent by delivering a 10 per cent increase to the maximum rates of Commonwealth Rent Assistance, as part of the first back-to-back increase in more than 30 years.
The Government’s Budget last month also included:
- Training more tradies to build the homes Australia needs with 20,000 Fee Free TAFE and pre-apprenticeship places for the construction industry.
- Working with the higher education sector on new regulation to require universities to increase student accommodation, taking pressure off the rental market.
- Increasing the Government’s line of credit to Housing Australia by $3 billion, and liability cap by $2.5 billion.
- Providing up to $1.9 billion in concessional finance for community housing providers and other charities, to support delivery of 40,000 social and affordable homes under the Housing Australia Future Fund and National Housing Accord.
This significant new investment is part of the $32 billion in new housing initiatives the Albanese Labor Government is delivering through our Homes for Australia plan.
The Albanese Labor Government has already delivered $2 billion to states and territories through the Social Housing Accelerator to deliver around 4,000 new social homes.
Prime Minister Anthony Albanese:
“I know firsthand the life-changing power that a secure roof over your head provides.
“That’s why my Government is committed to delivering more homes, more quickly, in more parts of Australia.
“This Budget means more tradies, fewer barriers to construction, less talk and more homes.”
Minister for Housing and Homelessness Julie Collins:
“This historic new agreement with states and territories will provide much needed funding to support homelessness services across the country and help build more Homes for Australia.
“The agreement is another important demonstration of our Government’s collaborative approach to addressing Australia’s housing challenges.
“We understand that working together is the best way to ensure more Australians have a safe and affordable place to call home.
“That’s why collaboration is at the heart of our $32 billion Homes for Australia plan and the ambitious national target to build 1.2 million homes by the end of the decade.”
Homes for Australia funding by State and Territory
| State and territory | $9.3 billion National Agreement on Social Housing and Homelessness (estimated funding 2024-25 to 2028-29) |
|---|---|
| New South Wales | $2.82 billion |
| Victoria | $2.36 billion |
| Queensland | $1.86 billion |
| Western Australia | $993.2 million |
| South Australia | $625.1 million |
| Tasmania | $195.3 million |
| Northern Territory | $290.2 million |
| Australian Capital Territory | $157.4 million |