Increase support for social and affordable housing across the country and improve access for home buyers, including: * increasing the Government-guaranteed liability cap of the National Housing and Finance Investment Corporation (NHFIC) by $2.0 billion to $7.5 billion to enable NHFIC to increase its support for social and affordable housing through loans from the Affordable Housing Bond Aggregator * amending NHFIC's Investment Mandate to require NHFIC to take reasonable steps to allocate a minimum of 1,200 homes to be delivered in each state and territory within 5 years of the Housing Australia Future Fund commencing operation * expand the eligibility of the Home Guarantee Scheme to: - allow any 2 eligible people to be joint applicants for a guarantee beyond spouses and de facto partners - allow non-first home buyers who have not owned a property in Australia for at least 10 years to access the First Home Guarantee and Regional Home Guarantee - allow a single legal guardian of children to access the Family Home Guarantee - allow Australian permanent residents to access the Scheme * redirecting interest earnings on unallocated NHFIC funds to support more social and affordable housing and delivery of housing priorities.
The Government will introduce a number of housing measures to increase support for social and affordable housing across the country and improve access for home buyers, including: * increasing the Government-guaranteed liability cap of the National Housing and Finance Investment Corporation (NHFIC) by $2.0 billion to $7.5 billion to enable NHFIC to increase its support for social and affordable housing through loans from the Affordable Housing Bond Aggregator * amending NHFIC's Investment Mandate to require NHFIC to take reasonable steps to allocate a minimum of 1,200 homes to be delivered in each state and territory within 5 years of the Housing Australia Future Fund commencing operation * expand the eligibility of the Home Guarantee Scheme to: - allow any 2 eligible people to be joint applicants for a guarantee beyond spouses and de facto partners - allow non-first home buyers who have not owned a property in Australia for at least 10 years to access the First Home Guarantee and Regional Home Guarantee - allow a single legal guardian of children to access the Family Home Guarantee - allow Australian permanent residents to access the Scheme * redirecting interest earnings on unallocated NHFIC funds to support more social and affordable housing and delivery of housing priorities. The Government will also provide $2.7 million in 2023-24 to the Treasury to support delivery of priority housing measures. The Government is also enabling up to 3 additional members to be appointed to the National Housing Supply and Affordability Council to provide a greater breadth of policy expertise. This measure expands on the 2022-23 October Budget measure titled Safer and More Affordable Housing. See also the related payment measure titled National Housing and Homelessness Agreement Transitional Funding. Treasury |