13,000 new affordable homes have been greenlit. Is it enough?

The details of a “milestone” multibillion-dollar spend to house vulnerable Aussies has been revealed.

A total of $9.2 billion in federal funding has been unlocked for the building program, with Prime Minister Anthony Albanese dubbing it “the biggest investment in social and affordable housing in over a decade”. 

It’s a long-awaited move by the Albanese government, which first announced its $10 billion funding commitment in September last year. 

More than 13,700 social and affordable dwellings are set to be built under the first round of the government’s Housing Australia Future Fund (HAFF) and National Housing Accord programs. 

Forty per cent of these – or about 5,500 homes – are scheduled to kickstart construction this year. 

“I grew up in social housing – I know how important a roof over your head is and the opportunities it creates,” Albanese, who spent his childhood in council housing in Sydney’s Camperdown, said in a statement. 

This week, the Labor government announced the breakdown of the new homes. Although over 13,000 will be built, less than a third (4,220) will be social housing. 

The remaining 70 per cent (9,522) will be affordable housing, a loosely-defined term that differs from state to state. Generally, it encompasses housing that costs less than 30 per cent of a family’s income. 

Of the 13,000 new homes, about nine per cent will be specifically designated for women and children fleeing domestic violence, or older women at risk of homelessness. 

Clare O’Neil, Minister for Housing and Homelessness, said the aim is to alleviate housing stress.

“We want to reduce the stress of housing for Australians – the long waits on housing lists, the long queues for rentals, the out of reach deposit for first home buyers,” she said in a statement.

In response, the Property Council of Australia (PCA) said the funding was “an important milestone”. 

“A wealthy, land rich nation should not have a housing deficit and the only way to close that gap is to build more homes,” Matthew Kandelaars, PCA executive of policy and advocacy, said.