THE federal government has released an updated Investment Mandate for Housing Australia, in an effort to unlock more social and affordable rental homes.
The updated mandate will ensure no jurisdiction misses out on rental homes under investments delivered and will see that regional, rural and remote Australia also benefits.
“Today marks significant progress in helping to ensure more Australians have a safe and affordable place to call home,” said Julie Collins, minister for housing.
“The updated Investment Mandate will mean no state or territory misses out on homes, and ensures that regional, rural and remote Australia benefits from our government’s ambitious housing reform agenda.”
The Investment Mandate will guide Housing Australia’s delivery of social and affordable rental homes under the $10 billion Housing Australia Future Fund (HAFF) and as funds committed under the National Housing Accord.
The government has committed to 30,000 new social and affordable rental homes committed in the first five years of the HAFF and the 10,000 affordable rental homes under the accord.
Australia’s states and territories will also match the National Housing Accord’s commitment, bringing another 10,000 new homes to housing stock.
Over its initial five years, the HAFF will also provide housing support to women and children leaving or experiencing domestic and family violence, older women at risk of homelessness, veterans experiencing or at risk of homelessness and remote Indigenous communities.
Back in just June, an additional $2 billion in financing was made available by the federal government for social and affordable rental homes after an amendment to what was then National Housing Finance and Investment Corporation’s (NHFIC) mandate.
“With the Investment Mandate now finalised, Housing Australia will soon be able to invite project proposals for funding. We’re getting on with the job to deliver more homes for Australians who need them,” concluded Collins.
