ANTHONY ALBANESE MP
PRIME MINISTER OF AUSTRALIA

JIM CHALMERS MP
TREASURER
 
JULIE COLLINS MP 
MINISTER FOR HOUSING
MINISTER FOR HOMELESSNESS
MINISTER FOR SMALL BUSINESS

JASON CLARE MP
MINISTER FOR EDUCATION

The Albanese Labor Government will make significant new housing investments in next week’s Budget to help deliver our comprehensive Homes for Australia plan.
 
The Prime Minister convened National Cabinet on Friday, where Premiers and Chief Ministers backed the following new measures in the Budget to help Australians build, rent and buy:

• $1 billion directed towards crisis and transitional accommodation for women and children fleeing domestic violence, and youth under the National Housing Infrastructure Facility. This includes increasing the proportion of grants for this investment from $175 million to $700 million in the Budget to be able to support crisis and transitional housing.
• $1 billion to get homes built sooner – funding for states and territories to build the roads, sewers, energy, water and community infrastructure that we need for new homes and for additional social housing supply.
• A new $9.3 billion 5-year National Agreement on Social Housing and Homelessness – for states and territories to combat homelessness, provide crisis support and build and repair social housing. This includes a doubling of Commonwealth homelessness funding to $400 million every year, matched by states and territories.

This significant new investment builds on the more than $25 billion in new housing investments our Government is delivering over the next decade, including:

• $10 billion Housing Australia Future Fund to build 30,000 social and affordable rental homes.
• $2 billion Social Housing Accelerator to deliver around 4,000 new social homes across Australia.
• $3 billion New Homes Bonus to incentivise states and territories to build more homes.
• $5.5 billion Help to Buy scheme to help more Australians buy their own home.
• $2.7 billion to increase Commonwealth Rent Assistance by 15 per cent.
• $2 billion in financing for more social and affordable rental homes.

We need to build more homes, more quickly, in more parts of the country.
 
Which is why the Albanese Government has an ambitious goal of building 1.2 million homes by the end of the decade.
 
We know this is a challenge, but it’s a challenge we have to meet.
 
We need more tradies and construction workers. That’s why earlier this week the Government announced $90.6 million to boost the number of construction workers, including 20,000 new fee free places.
 
We also need to reduce pressure on the private rental market.
 
That’s why the Government is today announcing we will work with the higher education sector on new regulation to require universities to increase their supply of student accommodation for domestic and international students.
 
Homes for Australia is our Government’s plan to help keep the great Australian dream in reach.
 

As at 11 May 2024.