Improving housing supply and affordability


Safe and affordable housing is central to the security and dignity of all Australians. However, Australia is experiencing significant housing challenges.

The government is taking a national leadership role by implementing a range of measures to address Australia’s housing challenges, with a focus on helping those most in need.

The government is also partnering with all tiers of government, the private sector and the not‑for‑profit sector to increase the supply of safe, secure and affordable housing.

The Treasury supports the government’s housing agenda by providing advice and analysis across a range of housing‑related issues, including housing supply and affordability.

National Housing Accord

All levels of government need to collaborate with market participants – including investors, and the residential development, building and construction sector, to unlock quality, affordable housing supply over the medium term.

To help tackle these challenges, the Australian Government is bringing these parties together under the National Housing Accord.

The Accord set an initial aspirational target of one million new, well‑located homes over 5 years from mid‑2024. In August 2023, National Cabinet agreed to update this initial target to 1.2 million new homes.

The government further committed under the Accord to support the delivery of 10,000 new affordable dwellings over five years with state and territory governments agreeing to match this commitment. This is a combined total of up to 20,000 affordable homes.

For more information see Delivering the National Housing Accord.

Housing Australia Future Fund

The government has established the $10 billion Housing Australia Future Fund (HAFF) to provide a sustainable funding source to increase the supply of social and affordable housing.

Disbursements from the HAFF will help support 20,000 new social housing dwellings, 4,000 of which will be allocated to women and children impacted by family and domestic violence and older women at risk of homelessness. It will also provide 10,000 new affordable housing dwellings, including for frontline workers.

Housing Australia will have primary responsibility for delivering the government’s social and affordable housing commitments under the HAFF and the National Housing Accord.

In its first 5 years, the Fund will also provide:

  • $200 million for the repair, maintenance and improvements of housing in remote Indigenous communities
  • $100 million for crisis and transitional housing options for women and children impacted by domestic and family violence and older women on low incomes who are at risk of homelessness
  • $30 million to build more housing and fund specialist services for veterans who are experiencing homelessness or at‑risk homelessness.

For more information see Housing Australia.

National Housing Infrastructure Facility

The government has expanded the remit of the National Housing Infrastructure Facility (NHIF) to invest up to $575 million in unallocated funding. This will help new social and affordable dwellings and attract more institutional capital to the sector. The NHIF will also receive an additional $1 billion in federal funding to support more social housing.

For more information see Housing Australia.

Social Housing Accelerator

The Commonwealth provided $2 billion to states and territories under the Social Housing Accelerator to deliver around 4000 new and refurbished social homes across Australia.

The payment was delivered to the states and territories in June 2023 so they could start investing in building new homes straight away.

This investment will:

  • create around 4,000 homes for Australians on social housing waiting lists
  • permanently increase the stock of social housing.

For more information, including all implementation plans, see Social Housing Accelerator.

New Homes Bonus

Under the New Homes Bonus, the Commonwealth has committed $3 billion for states and territories that achieve more than their share of the initial one million well‑located homes target under the National Housing Accord.

This will incentivise states and territories to undertake the reforms necessary to boost housing supply and increase housing affordability, making a positive and practical difference for Australians planning to buy a home.

Housing Support Program

The $500 million Housing Support Program is a competitive funding program for state and territory and local governments to kickstart housing supply in well‑located areas.

The program will provide targeted activation payments for initiatives such as connecting essential services, amenities to support new housing development, or building planning capability.

National Planning Reform Blueprint

In August 2023, National Cabinet agreed to a National Planning Reform Blueprint to outline planning, zoning, land release and other measures to improve housing supply and affordability. The Blueprint’s measures include:

  • Updating state, regional, and local strategic plans to reflect housing supply targets.
  • Promoting medium and high‑density housing in well‑located areas close to existing public transport connections, amenities‑ and employment.
  • Streamlining approval pathways.

A Better Deal for Renters

In August 2023, National Cabinet agreed to a Better Deal for Renters to harmonise and strengthen renters’ rights across Australia. This includes:

  • Developing a nationally consistent policy to implement a requirement for genuine reasonable grounds for eviction.
  • Moving towards limiting rent increases to once a year.
  • Phasing in minimum rental standards.

National Housing Supply and Affordability Council

The National Housing Supply and Affordability Council (the Council) is an independent advisory body established by the Australian Government under the National Housing Supply and Affordability Council Act 2023.

The Council consists of nine members from across the housing spectrum and from across the country, with expertise across a range of fields set out in legislation including residential construction and development, planning, social housing, housing and homelessness policy, economics and housing policy for Aboriginal persons and Torres Strait Islanders.

The role of the Council is to provide independent, evidence‑based expert advice to government on matters that materially impact housing supply and affordability in Australia.

The Council advises on national housing policy matters at the request of the Minister for Housing, and on its own initiative.

Supporting more Australians into home ownership

Help to Buy

The Help to Buy shared equity scheme will assist 40,000 Australian households to purchase a new or existing home with an equity contribution from the government. This will mean eligible Australians can buy a home with a smaller deposit and mortgage.

The government has introduced legislation to establish Help to Buy and is working closely with states and territories to deliver the scheme in 2024.

The Home Guarantee Scheme (HGS)

The government continues to support Australians to buy a home sooner through the Home Guarantee Scheme (the Scheme). The Scheme is administered by Housing Australia on behalf of the government.

The Scheme includes:

  • The First Home Guarantee – to support eligible first home buyers to buy their first home sooner, with a deposit as little as 5 per cent. 35,000 places are available each financial year;
  • The Regional First Home Buyer Guarantee – to support eligible regional first home buyers to buy a home in a regional area. From 1 October 2022, 10,000 places are available each financial year to 30 June 2025; and
  • The Family Home Guarantee – to support eligible single parents with at least one dependent child to buy a home, with a deposit as little as 2 per cent. 5,000 places are available each financial year to 30 June 2025.

For more information see Housing Australia.