UDIA Announces HAFF Investment Mandate Finalised
UDIA National congratulates the Minister for Housing on registering the Housing Australia Investment Mandate as the final hurdle to unlocking 50,000 affordable and social houses for Australians in need, under the Housing Australia Future Fund (HAFF) and the National Housing Accord (Accord).
“The HAFF and Accord are critical pieces of the housing affordability puzzle and are a foundation stone towards a nationwide strategy that boosts dwelling supply across the housing continuum,” said Col Dutton, UDIA National President.
The HAFF itself is tasked to deliver 30,000 new social and affordable rental homes within five years and a further 10,000 affordable rental homes will be delivered under the Accord.
The states and territories will match the commitment under the Accord, adding up to another 10,000 new homes across the country.
These are important Government commitments that meaningfully contribute housing supply towards the Government’s ambitious Accord target for 1.2million new homes in five years.
These initiatives will be accompanied by measures to accelerate housing approvals, increase enabling infrastructure and reduce regulation.
Success of Australia’s 1.2 million Accord target for new dwellings, hinges on these measures solving dwelling supply shortages across the entire continuum. The lions share of the Accord target rests with harnessing private housing providers to ramp up at market housing.
“Federal, state and territory Governments are now freed up and can get on with the job of solving fundamental market constraints to ensure the HAFF and Accord are successful – accelerating planning approvals across the whole housing continuum along with the release of more development ready land to boost housing supply and manage affordability.”
“We congratulate the Government for its steadfast focus on ambitious plans to deliver more housing to more Australians than ever before.”
UDIA National looks forward to working with Government to make sure housing initiatives continue to provide homes for all Australians