Invest
How Labor plans to fix the housing affordability crisis
Opposition Leader Anthony Albanese has proposed the creation of a new $10 billion Housing Australia Future Fund to tackle the housing affordability and homelessness crises.
How Labor plans to fix the housing affordability crisis
Opposition Leader Anthony Albanese has proposed the creation of a new $10 billion Housing Australia Future Fund to tackle the housing affordability and homelessness crises.

“I’m proud to say that Labor in government will create a $10 billion Housing Australia Future Fund, with the annual investment return to build social and affordable housing and create thousands of jobs,” Mr Albanese said.
Labor’s latest counter-proposal comes just days after the 2021 federal budget confirmed that the government would continue to support the state and territory governments through $124.7 million in funding for social and community housing. The figure also represents a significant increase on Labor’s 2020 budget reply callout for a $500 million investment in social housing.
Announced as part of the opposition’s formal budget reply speech, the proposed Housing Australia Future Fund would see a Labor government build 20,000 social housing properties over the first five years.
Approximately 4,000 of these properties will be reserved for women and children suffering from domestic and family violence and older women with low incomes. Another 10,000 are being reserved for “heroes of the pandemic” like nurses, police, emergency service workers and cleaners.

Labor expects the initiative will create over 21,500 jobs each year, with one in ten on-site roles said to be suitable for apprentices. Overall, Labor said the measure will inject $34.8 billion into the economy over five years.
Additionally, Mr Albanese said that returns from the Housing Australia Future Fund over the first five years will also be used to fund a number of more targeted attempts to address homelessness and housing affordability across the country. Specifically, this includes:
- $200 million for the repair, maintenance and improvement of housing in remote Indigenous communities
- $100 million on crisis and transitional housing for women who are victims of domestic violence and older women at risk of homelessness
- $30 million for specialist services and housing for veterans experiencing or at risk of homelessness.
Moreover, Mr Albanese revealed the fund itself would be managed by the existing Future Fund Board of Guardians, which includes former Howard-government treasurer Peter Costello. Returns generated by the investment will then land in the hands of the National Housing Finance and Investment Corporation.
“This will make money, create jobs, build homes and change lives,” said shadow minister for housing and homelessness Jason Clare.
About the author

About the author


Property
North platform adds household reporting feature to boost adviser efficiency
AMP's North platform has launched consolidated household reporting across multiple client accounts, helping financial advisers streamline their client review processes. Read more

Property
What Adds The Most Value To Properties?
Wondering how to up the value of your property? Properties are worth a lot of money in general, but there’s always a way to maximise value. The good news is that most of the things you can do to ...Read more

Property
Centuria reports strong growth in alternative real estate sectors for FY24
Centuria Capital Group has reported significant growth in alternative real estate sectors for the 2024 financial year, driving stable performance and increased guidance for FY25. Read more

Property
How to leverage equity in your home for investment or renovation
Home equity, the value of your property minus any debts owed, is a powerful financial resource many homeowners in Australia can utilize to further their financial goals. Whether you're looking to ...Read more

Property
Exploring REITs: Real estate investment without buying property
Real Estate Investment Trusts (REITs) offer a compelling investment alternative for those interested in the real estate market but may not want to endure the complexities and capital requirements of ...Read more

Property
Retirement communities: a pivotal element in meeting Australia's housing targets
The Retirement Living Council (RLC) has recommended that retirement communities should be considered a vital part in the Australian Government's initiative to fulfill the Housing Australia Future Fund ...Read more

Property
Australians adjust financial strategies amid changing property market dynamics
The 2023 calendar year saw Australian borrowers acquiring a total of $300.9 billion in new loans for property purchases, marking a 12.7% decrease from the previous year. Read more

Property
Split home loans unlocking doors for Aussie buyers
Australians are teaming up to dive into the real estate market and seize the advantages of home ownership, with the trend of split home loans surging as family and friends unite to buy properties ...Read more

Property
North platform adds household reporting feature to boost adviser efficiency
AMP's North platform has launched consolidated household reporting across multiple client accounts, helping financial advisers streamline their client review processes. Read more

Property
What Adds The Most Value To Properties?
Wondering how to up the value of your property? Properties are worth a lot of money in general, but there’s always a way to maximise value. The good news is that most of the things you can do to ...Read more

Property
Centuria reports strong growth in alternative real estate sectors for FY24
Centuria Capital Group has reported significant growth in alternative real estate sectors for the 2024 financial year, driving stable performance and increased guidance for FY25. Read more

Property
How to leverage equity in your home for investment or renovation
Home equity, the value of your property minus any debts owed, is a powerful financial resource many homeowners in Australia can utilize to further their financial goals. Whether you're looking to ...Read more

Property
Exploring REITs: Real estate investment without buying property
Real Estate Investment Trusts (REITs) offer a compelling investment alternative for those interested in the real estate market but may not want to endure the complexities and capital requirements of ...Read more

Property
Retirement communities: a pivotal element in meeting Australia's housing targets
The Retirement Living Council (RLC) has recommended that retirement communities should be considered a vital part in the Australian Government's initiative to fulfill the Housing Australia Future Fund ...Read more

Property
Australians adjust financial strategies amid changing property market dynamics
The 2023 calendar year saw Australian borrowers acquiring a total of $300.9 billion in new loans for property purchases, marking a 12.7% decrease from the previous year. Read more

Property
Split home loans unlocking doors for Aussie buyers
Australians are teaming up to dive into the real estate market and seize the advantages of home ownership, with the trend of split home loans surging as family and friends unite to buy properties ...Read more