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$vuetify.icons.faPhone1300 650 620

Budget touches on housing supply

Media release

Budget touches on housing supply

Media release
The Housing Industry Association welcomes the Albanese Government’s continued focus on social housing in tonight’s Federal Budget.
“Social and affordable housing is one important part of Australia’s housing continuum,” said Jocelyn Martin, HIA Deputy Managing Director – Industry and Policy.

“Social and affordable housing has suffered from prolonged under-investment. Greater investment in new housing servicing this part of the market will assist in reducing the number of households experiencing housing stress. The additional rental assistance support will also offer some relief.

“The ‘Housing Australia’s Future Fund Bill 2023’ is an important step towards achieving this goal.

“While necessary, the Government’s investment in improving the supply of social and affordable housing will do little to put downward pressure on rental costs and housing affordability in the wider market.

“Housing affordability challenges facing Australian households can only be addressed if the supply of housing can align with demand. HIA estimates that Australia needs 1.66 million additional houses by 2030, just to keep up with the demand from population growth. 

“Tackling housing affordability starts with making the supply of housing a national priority. Improving affordability can enable more households to own their own homes.

 “If housing affordability is to be improved, we must see further collaboration between all levels of government with a concerted focus on increasing the housing supply,” concluded Ms Martin.

For more information please contact:

Jocelyn Martin

Managing Director

Joe Shanahan

Manager, Communications & Media
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