A massive and immediate injection of cash to put a dent in Australia’s housing crisis has been hailed as “desperately needed” with concerns the country’s existing infrastructure cannot support a looming migration boom.
Following the National Cabinet meeting on Friday, the Albanese government announced $2 billion for social and affordable homes to be split across all states and territories on a per capita basis.
The Social Housing Fund Accelerator has been seen as an olive branch to the Greens who are demanding guaranteed and substantial government investment. Picture: NCA/Nikki Davis-Jones The Albanese government forecasts the “one-off catch up from the pandemic” in net overseas migration will hit 715,000 across the 2022-23 and 2023-24 financial years.
“If we are going to have inbound immigration… we don’t want to say Sydney’s full we want to welcome people to this great city. The federal government’s announcement came amid tense negotiations with the Greens over the Housing Australia Future Fund. Greens housing spokesperson Max Chandler-Mather said Labor had “caved into pressure” from the minor party and conceded it can cough up the multi-billion spend for housing.
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