Housing Australia Initiates Ambitious Programs to Boost Affordable Housing Supply

Housing Australia has launched two ambitious programs, the HAFFF and NHAF, with the aim of delivering significant numbers of social and affordable homes across the country. Over a five-year period, the HAFFF program targets the delivery of 30,000 social and affordable homes, while the NHAF program aims to provide 10,000 affordable homes.

Administered by Housing Australia, these programs are now open for funding applications and are designed to support diverse housing projects nationwide. They encourage collaboration between various entities to bolster the supply of affordable housing, facilitating institutional investment to create a viable asset class.

The targets of these programs extend to vulnerable groups, including Aboriginal and Torres Strait Islanders and women impacted by domestic violence, among others. Eligible entities for funding encompass community housing providers, governments, and those housing indigenous Australians and defense force members.

To support these initiatives, financing options such as Availability Payments, Concessional Loans, and capital grants are available. The first round of applications is set to close on 22 March 2024, signaling the beginning of a concerted effort to address Australia’s housing affordability challenges and provide much-needed support to those in need of stable and secure housing.