Affordable housing will be the next parliamentary priority as the federal government releases its promised plan to help ease the crisis, and Independent ACT Senator David Pocock “welcomed” the investment.
After addressing election commitments to tackle climate change, childcare costs and establish a national anti-corruption commission in 2022, the government has revealed housing as being first on the agenda for 2023.
Proposed laws to establish the Housing Australia Future Fund and two independent advisory bodies have been published.
Consultation on the proposals will be open until mid-January ahead of parliament’s return in February.
The $10 billion future fund is expected to provide ongoing investment returns which will go towards new social and affordable homes.
Housing Minister Julie Collins said returns from the fund would deliver the government’s commitment of 30,000 new social and affordable homes in the fund’s first five years.
This would include 4000 homes for women and children impacted by family and domestic violence or older women at risk of homelessness.
The fund would also commit $200 million for housing repair, maintenance and improvement in remote Indigenous communities, $100 million for crisis and transitional options and $30 million to build housing and fund specialist services for veterans at risk of homelessness.
“Having a safe and affordable place to call home is critical for Australians,” Ms Collins said.
“Our ambitious housing agenda will help ensure there will be a pipeline delivering new homes for Australians, and this fund will be a major component.”
The proposed laws include expanding the remit of the National Housing Finance and Investment Corporation and giving it a new name, Housing Australia.
Seven members will also be appointed to the National Housing Supply and Affordability Council, which will be asked to advise on the development of a new national strategy to reduce homelessness and make it easier to buy or rent a home.
Australian Housing and Urban Research Institute managing director Michael Fotheringham welcomed the Albanese government’s relatively swift action on the housing affordability crisis.
“It is their first year of government and they are aiming to get the ball rolling in early 2023 – they are not taking the housing policy issue casually,” he told AAP.
While there’s been a tendency for federal governments to deflect responsibility for housing affordability to the states and territories, Dr Fotheringham was heartened to see signs of a collaborative approach across different levels of government.
“We’re returning to a partnership approach to housing, which has been standard in the post World War II history. It’s important to restore it,” he said.
Ms Collins said the draft legislation was expected to be introduced into the parliament early next year.
Senator David Pocock ‘welcomed’ investment
Independent ACT Senator David Pocock has welcomed the the Federal Government’s draft legislation to establish a new Housing Australia Future Fund and National Housing Supply and Affordability Council.
Senator Pocock also welcomed the early engagement from Minister Julie Collins, but urged for more ambition and greater capacity building.
“The magnitude of Australia’s housing crisis demands urgent action and national leadership,” he said.
“Making sure all Australians have access to housing they can afford means fundamentally reconsidering how we think about it in policy terms.
“Housing should not be viewed simply as a vehicle for wealth creation, it needs to be recognised for the fundamental human right it is.
“The establishment of a new national housing fund is very welcome but needs to go further if we are to stop Australia’s affordability crisis getting worse.
“While an initial future fund investment of $10 billion delivering 30,000 homes over five years is a good start, even when added to the new supply contribution of states and territories it will only deliver a fraction of the existing unmet housing need.
“On a per capita basis in the ACT the new fund will deliver just over 100 homes a year in the face of a 3,100 dwelling shortfall.
“Part of the policy strength in the design of future fund is the largely neutral impact on the budget’s underlying cash balance.
“This creates a strong argument for building a mechanism into the legislation, beyond the five yearly reviews already flagged to measure adequacy, that enables the future fund to grow and be topped up over time.
“We know demand for social and affordable housing will remain strong and that there is so much catching up to do to address what is a huge backlog of people in desperate need.
“Recent natural disasters have exacerbated the already dire housing shortage and there are far too many Australians who will be spending this Christmas in their cars, caravans or tents.
“We have to do better, invest more and plan strategically to solve Australia’s social and affordable housing shortage.”
Senator Pocock intends to constructively engage with stakeholders and the government over the details of the legislation and said it marked an opportunity and turning point in resetting national housing policy.
“The establishment of a new National Housing Supply and Affordability Council supports a co-ordinated, evidence-based approach to the design and implementation of housing policy,” he said.
“With the creation of Housing Australia out of the old National Housing Finance and Investment Corporation there is also the chance to capacity build and coordinate research, skills and support for the new council in one centre of national leadership and excellence.
“It’s also really encouraging to see some strong transparency measures in these draft bills around the publication of terms of reference, reviews and reports.
“Strong oversight and clear guidelines for any grants paid to state and territory governments will also be important to maintaining the integrity of the new fund.”
AAP with Newstime Media.
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