‘New era’ under Housing Australia commences: Julie Collins 

The National Housing Finance and Investment Corporation (NHFIC) has officially rebranded to Housing Australia and had its functions streamlined, following the passage and royal assent of the federal government’s housing legislative package (the Treasury Laws Amendment Bill 2023 that saw the Housing Australia Future Fund [HAFF]).

As of yesterday (12 October), the National Housing Finance and Investment Corporation (NHFIC) has become Housing Australia.

The federal government has confirmed that “all current programs currently administered” by the NHFIC would continue under Housing Australia, which included the National Housing Infrastructure Facility (NHIF) that provides support in the form of concessional loans and grants.

Housing Australia is now responsible for the expanded Home Guarantee Schemes, which support eligible first home buyers, regional Australians and single parents with dependents through the ability to purchase homes with smaller deposits.

The body is also responsible for delivering social and affordable rental homes under the Albanese government’s $10 billion Housing Australia Future Fund and funds committed under the National Housing Accord for new affordable rental housing.

Last year, the Albanese government provided $575 million to the NHIF for social and affordable housing, with a further $1 billion added this year to build more homes.

Together the commitments under Housing Australia will provide 40,000 new social and affordable rental homes, according to the government.

Speaking on Thursday, the Minister for Housing Julie Collins said the commencement of Housing Australia “represents the start of an exciting new era for housing policy in Australia”.

Ms Collins stated: “Housing Australia will be the new home for some of the Albanese government’s significant new housing commitments including delivering homes under the $10 billion Housing Australia Future Fund.

“It will also be critical for helping more Australians into home ownership through the Home Guarantee Scheme.

“It’s all part of our broad housing agenda to ensure more Australians have a safe and affordable place to call home – whether they’re buying, renting or needing a safe space to spend the night.”

The commencement of Housing Australia occurred on the same day that Prime Minister Anthony Albanese promoted the investment of more than $80 million through the Social Housing Accelerator in Victoria to deliver 120 new social homes.

Mr Albanese commented: “The Social Housing Accelerator is real dollars, driving real change and building more homes for Australians.

“This is the Allan government and the Commonwealth working together to deliver more homes for Victorians.

“We have an ambitious housing agenda which includes the delivery of 30,000 social and affordable homes through our Housing Australia Future Fund.”

Ms Collins added: “We know Australia’s housing challenges are serious which is why we’re taking immediate action with our $2 billion Social Housing Accelerator.

“This new funding, and the homes we are announcing today, will mean more Australians have a safe and affordable place to call home.”

[Related: 1 in 3 first home buyers used guarantee schemes]

Josh Needs is a journalist on Momentum's mortgages titles: The Adviser and Mortgage Business. 

Since joining Momentum in 2022, Josh has written on a range of topics in the financial services space, including for Accountants Daily and SMSF Adviser.

Prior to joining Momentum, wrote news, feature articles and video reviews for Unsealed 4x4, a specialist offroad motoring website.

He studied journalism at the University of NSW.

You can email Josh on: josh.needs@momentummedia.com.au