11 May 2024
The Federal Government has today given new home building across the housing spectrum a much-needed funding boost said Master Builders Australia CEO Denita Wawn.
“The key to solving the housing crisis: supply, supply, supply.
“We know whether it’s social and community housing, rentals or owner-occupiers, there is not enough supply to house all Australians.
“Targeted measures in social housing, student accommodation and critical infrastructure all go towards relieving some of the more acute supply pinch points.
“Increased funding for critical infrastructure to support new home building reinforces the important role of commercial and civil construction in building sustainable communities.
“Requiring universities to increase their supply of student accommodation is an excellent example of how Ministerial portfolios should be working together.
“With a strong funding stream now locked in, Governments need to turn their minds to reducing the other barriers to housing supply like reducing the cost of building and time it takes to build.
“Workforce shortages, low productivity, industrial relations and planning reforms all continue to drag down our capacity to deliver the 1.2 million homes over the next five years,” Ms Wawn said.
The Government has announced the following:
- $1 billion directed towards crisis and transitional accommodation for women and children fleeing domestic violence, and youth under the National Housing Infrastructure Facility. This includes increasing the proportion of grants for this investment from $175 million to $700 million in the Budget to be able to support crisis and transitional housing.
- $1 billion to get homes built sooner – funding for states and territories to build the roads, sewers, energy, water and community infrastructure that we need for new homes and for additional social housing supply.
- A new $9.3 billion 5-year National Agreement on Social Housing and Homelessness – for states and territories to combat homelessness, provide crisis support and build and repair social housing. This includes a doubling of Commonwealth homelessness funding to $400 million every year, matched by states and territories.
- Work with the higher education sector on new regulation to require universities to increase their supply of student accommodation for domestic and international students.
Media contact:
Dee Zegarac
National Director, Media & Public Affairs
0400 493 071