Albanese struck a deal with state and territory leaders on Friday to inject more cash into construction, including a five-year agreement on social housing.
Australians will be promised $12.3 billion in new housing programs in a federal budget pitch to ease fears of chronic shortages that force up rents and prices, with new support for women and children who need shelter after fleeing domestic violence.
Albanese said the new spending would encourage states to kickstart housing projects and would be combined with other policies to increase the number of construction workers. Separately, the government is preparing a new law to set a cap on the number of international student places the universities can offer each year.While it has not named the level it wants, the draft law will give Education Minister Jason Clare the power to impose the maximum figure after consultations with universities.from 518,000 last year to about 260,000 next year, a key issue amid a political argument about the number of arrivals since border controls eased after the pandemic.
Treasurer Jim Chalmers acknowledged the pressure on housing supply and vowed to act on the problem when asked in an exclusive podcast and video interviewChalmers said supplying enough houses for a growing population would be a key issue in next week’s budget. While the government’s goal of getting 1.2 million well-located homes built in five years starts on July 1, experts are warning they are yet to see a meaningful increase in building approvals to start moving on that target.
“At the same time, the residential construction sector continues to run up against shortages in labour, high material costs and depressed profit margins,” he said.
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