The Federal Government is delivering an additional $1 billion through its Homes for Australia plan to accelerate the development of more homes across the country.
States and territories have been paid $1 billion collectively through the Priority Works Stream of the Housing Support Program, adding to the $500 million already allocated under the program.
The additional investment can be used by states and territories to build enabling infrastructure and amenities essential for new homes, such as roads, sewers, energy, water and community infrastructure, and for new social housing.
This is one of a range of measures designed to help achieve the national target of building 1.2 million new, well-located homes over the next five years.
It also forms part of the $32 billion in new housing initiatives the Federal Government is delivering through the Homes for Australia plan.
States and territories will be required to provide implementation plans for the Priority Work Stream by September 2024 that will outline the specific projects this funding will deliver.
The Federal Government’s Budget also included investment for:
- 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 regulations 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
- Providing 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
Prime Minister, Anthony Albanese, said that this funding for every state and territory will help build more homes, more quickly, in more parts of the country.
“It will build the roads, energy and water we need for new homes,” Prime Minister Albanese said.
“Because building more homes will make housing more affordable whether you’re building, renting or buying.”
Federal Minister for Infrastructure, Transport, Regional Development and Local Government, Catherine King, said, “Right now, our cities and towns need more homes, and we need the infrastructure that turns those homes into communities – and that’s what our government is funding.
“We are focused on constructing new homes and supporting them with the infrastructure that delivers thriving communities, bringing down the cost of owning and renting a home and easing the cost of living,” Minister King said.
Federal Minister for Housing and Homelessness, Julie Collins, said that the government is working with states and territories to help build more homes because this is the best way to address Australia’s housing challenges.
“We know we need the right infrastructure to get homes on the ground more quickly, which is exactly what this new funding will help deliver,” Minister Collins said.
“This funding is just one part of our $32 billion Homes for Australia plan to help build 1.2 million homes across the country by the end of the decade.”
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