The Housing Australia Future Fund Bill, National Housing Supply and Affordability Council Bill and the Treasury Laws Amendments ( Housing Measures No.1 ) Bill are now law.
From a developer/ builder perspective, the key takeaways from a joint press release on 11 September 2023 by the Hon Julie Collins, Minister for Housing, Minister for Homelessness and Minister for Small Business with Anthony Albanese Prime Minister for builders and developers are :
$10 billion Housing Australia Future Fund as a funding pipeline for 30,000 new social and affordable homes in the funds first 5 years for social and affordable rental housing.
An immediate $3 billion is to be provided to fund social and affordable homes.
Funds will also be available for :
- Repair , maintenance, and improvement of indigenous housing
- Crisis and transitional crisis housing options for women, children and women at risk of homelessness
- Build housing for homeless and at-risk veterans.
New incentives to boost the supply of rental housing “by changing arrangements for investments in build-to-rent accommodation”. No details provided at this stage but interesting to note acknowledgement that policy changes are needed to improve BTR feasibility and profitability.
State and Territories supporting the national roll out of the Help to Buy If we can assist with these new opportunities or require further information, please do not hesitate to contact Denis Hall all, Special Advisor – Real Estate & Development.