Housing Australia Future Fund Progress Remains Below Target
- brg_news_room
- Aug 3
- 1 min read
Australia: Official figures show that Australia's Housing Australia Future Fund (HAFF) had delivered 1,432 social and affordable homes by April, more than two years after its launch. The AUD 10 billion programme aims to deliver 40,000 homes by 2029. According to Housing Australia, a further 5,189 homes are in planning, 4,927 are in pre-development and 6,851 are under development. However, only 82 of the 173 projects selected during the first funding round have reached financial close, while several projects have been withdrawn following increases in construction costs.
The programme has faced delays, governance issues and rising development costs, while Australia's housing affordability challenges continue. Home values have increased by 47.3% since March 2020, with mortgage repayments accounting for around 45% of household income for new borrowers. Industry organisations have called for additional investment in social housing, citing growing demand for affordable housing and crisis accommodation. The Government has stated that the HAFF is intended to increase housing supply through partnerships with housing providers and developers.
Source: WSWS
