The Housing Affordability Fund (the Fund) is a five year, more than $400 million investment by the Australian Government that is helping to reduce the cost of new homes for homebuyers.
The Fund is addressing two significant barriers to increasing the supply of affordable housing:
- The 'holding' costs incurred by developers as a result of long planning and approval times; and
- Infrastructure costs, such as the laying of water pipes, sewerage, transport and the creation of parks.
The Fund provides grants to state, territory and local governments, to work in conjunction with the private sector, to reduce housing-related infrastructure and planning costs, and to pass savings onto new home purchasers.
Two funding rounds have been conducted and program funding is now fully committed.
Proposals were assessed against transparent, needs-based criteria and priority was given to proposals that aimed to improve the supply of new moderately priced housing and demonstrated how cost savings were to be passed onto home buyers.
Seventy five projects have been approved for funding which will stimulate the supply of new housing and will support more affordable housing.
Funded projects include:
Projects are located in every state and territory.
For more information about the Housing Affordability Fund see:
- Twenty three reform-based projects to promote and develop best practice local government planning and development assessment processes. Speeding up development assessment processes will reduce the costs associated with the time taken to approve a development, and ultimately the costs that flow through to the home buyer.
- Nine of the reform projects will assist with the implementation of electronic Development Assessment (eDA) systems in each jurisdiction to enable faster assessment of development approvals.
- Fifty two infrastructure projects to reduce the burden of infrastructure charges on developers and generate savings for purchasers of new entry-level and moderately priced homes. Infrastructure investments will also help to speed up the release of land for residential development.
- Eight of these infrastructure projects also include reform elements.
- Questions and answers
- Program design and funding rounds
Housing Affordability Fund
The former Department Families, Housing, Community Services and Indigenous Affairs
PO Box 7576
CANBERRA Business Centre ACT 2610