Anthony Albanese was raised in public housing by a single mum on a disability pension. Having access to a safe and stable place to grow up meant he could get a good education and a start in life. He knows the security that having a roof over your head can bring. We need to build more social housing, upgrade existing housing, and make sure that the promise of home ownership is extended to all Australians.
We want every Australian to know the security of having a roof over their head. Labor will create the $10 billion Housing Australia Future Fund which will build 30,000 new social and affordable housing properties in its first five years, and create thousands of jobs.
Each year investment returns from the Housing Australia Future Fund will be transferred to the National Housing Finance and Investment Corporation (NHFIC) to pay for social and affordable housing projects.
Over the first 5 years the investment returns will build around:
This will directly support 21,500 full-time jobs across the construction industry and broader economy, per year, over 5 years, nationwide – and one in 10 direct workers on site will be apprentices.
In addition to this, a portion of the investment returns will be available to fund acute housing needs on an ongoing basis.
In the first 5 years these investment returns will fund:
A total of $1.7 billion dollars will be allocated to women – $1.6 billion for long term housing, and an additional $100 million for crisis and transitional housing options for women and children fleeing domestic and family violence, and older women on low incomes who are at risk of homelessness.
This housing will be constructed in accordance with principles of universal design which enable access for people with disability.