Building more homes

The best way to ensure more Australians have a safe and affordable place to call home is to boost housing supply. That’s why National Cabinet has agreed to an ambitious new national target to build 1.2 million new homes over five years, and we’re providing $3.5 billion to help get there.

Our $10 billion Housing Australia Future Fund will build 30,000 social and affordable homes, including homes for women and children fleeing domestic violence, older women at risk of homelessness and frontline workers.

On top of that, we've provided $2 billion to state and territory governments through the Social Housing Accelerator to build thousands more social homes across the country.

Through National Cabinet, states and territories agreed to change planning laws to build more homes closer to where people want to live and work. It’ll mean people can be closer to public transport and reliable services, and connected to their friends and family.

And we’re providing incentives to increase build-to-rent accommodation, and as part of the National Housing Accord, we'll build an additional 10,000 affordable rental homes.

A better deal for renters

Where you rent is your home, and it should feel like it. We’re delivering a better deal for renters and greater security in your lease.

We’ve provided the largest increase to rent assistance in more than 30 years. And we’re working with state and territory governments to strengthen renters’ rights. National Cabinet has agreed to better protect renters against evictions, limit rent increases to once a year, limit break lease fees and more.

We’re building more social and affordable rental homes, with our $2 billion Social Housing Accelerator, and an additional $2 billion in financing for community housing providers in the budget. We’re also delivering an additional $1 billion to the National Housing Infrastructure Facility and have widened its remit to allow it to invest in social and affordable homes.

Help to buy

Our Help-to-Buy scheme will start in 2024. We will provide a contribution of up to 40% for 40,000 low and middle income families to purchase a home of their own.

We’ve also expanded the Home Guarantee Scheme eligibility with 50,000 new places available, helping more Australians into their own home.

And we established the Regional First Home Buyer Guarantee three months early, helping regional Australians purchase a home with as little as a 5% deposit and avoid paying Lenders’ Mortgage Insurance.