Federal Government announces Social Housing Accelerator
23 Jun 2023
The recently announced Social Housing Accelerator is designed to rapidly fund new social housing supply, providing $2 Billion in funding to states and territories, intended as a bridge until the Housing Australia Future Fund (HAFF) proceeds begin to be realised.
The Accelerator is for new Social Housing supply—Public Housing and Community Housing, not for Affordable Housing. How this is implemented in each jurisdiction will be determined by the each of the states and territories depending on local needs and resources. It does have to be enduring social housing, not short term program such as head leasing, and funds need to be committed within 2 years.
The distribution is based on a funding floor of $50M for the smallest jurisdictions, and per capita distribution beyond that. Funds can be used for new builds, spot purchasing, expanding programs, renovating or refurbishing uninhabitable stock, and needs to be committed within two years.
The breakdown is:
The funding will be provided to States and Territories by the end of June 2023.