New funding to deliver more homes for Australia
MEDIA RELEASE - Friday 28 June 2024
Shared from Ministers for the Department of Infrastructure
The Hon Catherine King - Minister for Infrastructure, Transport, Regional Development and Local Government
JOINT RELEASE WITH
The Hon Anthony Albanese MP - Prime Minister of Australia
The Hon Julie Collins MP - Minister for Housing and Homelessness
The Albanese Labor Government’s Homes for Australia plan is delivering an additional $1 billion across the country to get homes built sooner.
States and territories will today be paid $1 billion collectively through the Priority Works Stream of the Housing Support Program to turbocharge construction of new homes.
This investment adds to the $500 million already under the Housing Support Program to boost housing supply.
The additional $1 billion 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 ambitious national target of building 1.2 million new, well-located homes over the next 5 years.
It also forms part of the $32 billion in new housing initiatives we are delivering through our 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 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.
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.
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.
Comments attributed to Prime Minister, Anthony Albanese:
"This funding for every state and territory will help build more homes, more quickly, in more parts of our country.
“It will build the roads, energy and water we need for new homes.
“Because building more homes will make housing more affordable whether you’re building, renting or buying.”
Comments attributed to Minister for Infrastructure, Transport, Regional Development and Local Government Catherine King:
“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.”
Comments attributed to Minister for Housing and Homelessness Julie Collins:
“Our 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.
“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.”
State and territory - $1 billion Housing Support Program
New South Wales - $304.3 million
Victoria - $248.8 million
Queensland - $199.2 million
Western Australia - $105.3 million
South Australia - $67.4 million
Tasmania - $25 million
Northern Territory - $25 million
Australian Capital Territory - $25 million