Prime Minister Anthony Albanese said the money, which will be used until 30 June 2025, will be delivered to state and territory governments within two weeks to increase the housing supply for Australians on the waiting list.
“The Labor government that I lead believes that every Australian deserves to have a roof over their head,” Albanese said in Melbourne. He added that the money will only be used to build public apartments for rent.
The government said in May it would provide A$14.6 billion over four years in the federal budget to lower the cost of living for families and businesses, which it promised would not fuel inflation.
In a statement, Albanese described providing more housing for Australians as a “key national priority” and said the additional funding would see government investment in the sector increase to over A$9.5 billion in the 2023 financial year.
The government also wants to set up an A$10 billion housing fund to build at least 30,000 new, affordable homes, but its intention to do so faces opposition from small-party senators in Parliament.
According to Australian government data, there were 417,800 households in major social housing schemes, including public housing, in June 2021, up from 378,600 households in June 2008.
