Rental market in ‘fever stage’ as 6600 homes exit affordability scheme

This year, 6,619 households will drop out of the program. Nearly 2,500 of those homes are in Queensland, while Victoria will lose 1,356 properties from the program. Western Australia will lose 1110 and NSW will lose 605. At the end of the year, nearly 18,000 homes will remain in the program, with another 9,200 retiring the following year.

Labor had promised to reintroduce a version of the program in the 2019 election but failed to adopt a similar proposal to that used in last year’s election. However, Housing Secretary Julie Collins said the government is working hard to provide more affordable housing.

Housing Secretary Julie Collins said the government will launch its housing and homelessness strategy this year.

Housing Secretary Julie Collins said the government will launch its housing and homelessness strategy this year.Credit:Alex Ellinghausen

“The Albanian government has an ambitious housing reform agenda to ensure more Australians have a safe and affordable place to call home. We will not waste a day in 2023 working on the implementation of this agenda,” she said.

Collins will introduce legislation to Parliament this year, establishing the government’s $10 billion Housing Australia Future Fund. Proceeds from the fund will be used to build 30,000 new social and affordable homes over the fund’s first five years, she said.

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The government has also made available up to $575 million through the National Housing Infrastructure Facility to invest in social and affordable housing.

“This comes on top of the Housing Accord, which includes federal funding to provide 10,000 affordable housing over five years beginning in 2024,” she said.

But Azize said that was not enough and the government needed to build 25,000 new social housing units each year to reverse the crisis.

Azize also pointed out that more social and affordable housing made the rental market better for everyone.

“We now have three decades of experience to tell ourselves that the only way to make the market more affordable is to put ultra-affordable homes on the market,” she said.

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https://www.smh.com.au/politics/federal/rental-market-at-fever-pitch-as-6600-homes-exit-affordability-scheme-20230106-p5cav8.html?ref=rss&utm_medium=rss&utm_source=rss_politics_federal Rental market in ‘fever stage’ as 6600 homes exit affordability scheme

Callan Tansill

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