Opportunity to Ease Housing Crisis Grip

PowerHousing Australia applauds the Federal Government and Housing Australia for their rapid and transformative support of community housing providers (CHPs) through the Housing Australia Future Fund (HAFF).

In just under four months, HAFF has progressed from legislation to the implementation of its first round, demonstrating a strong commitment to tackling the housing crisis and bolstering CHPs nationwide.

Since 2018, Housing Australia has allocated $3.4 billion to CHPs. At PowerHousing, our members have leveraged this support to consistently launch new housing projects. However, past efforts were often hindered by the lack of consistent funding and approval process, making project pipelines unfeasible, uncertain and difficult to execute.

The HAFF’s $10 billion initiative marks a pivotal shift, enabling CHPs to propose multiple, larger-scale projects across metropolitan and regional Australia. This streamlines project delivery, ensures funding security, and fosters sophisticated partnerships and funding models.

Our CHPs have submitted funding applications for 26,120 homes in the first round of HAFF, with 30% (7,836 homes) located in regional and rural areas. Alarmingly, over 80% of these projects may not proceed without HAFF approval in this first round.

This presents a crucial opportunity for the Government to ease the housing crisis by front-loading HAFF Round 1 funding. This will capitalize on the investment in quality projects, accelerating the delivery of social and affordable homes to individuals and families in need now.

The scale of the housing crisis necessitates a commensurate scale of investment. PowerHousing urges the Federal Government to maximize funding for HAFF Round 1 and double the HAFF investment to $20 billion. This would sustain a robust development pipeline, consistently increasing housing supply and relieving market pressures.

The initial success of HAFF, reflected in the strong response from CHPs, underscores the need for prompt approval of submissions and the completion of projects. We advocate for continued collaboration with all levels of Government and bipartisan support to solidify HAFF’s long-term impact.

“The Housing Australia Future Fund has been a game-changer for community housing providers. With this critical support, we can expand our reach and provide more social and affordable homes across the nation. The Federal Government should maximize funding to support HAFF Round 1 and ensure ongoing investment to maintain a consistent housing supply in the years to come.” Michelle Gegenhuber, CEO, PowerHousing Australia

 

For further detail contact:

Michelle Gegenhuber, Chief Executive Officer, PowerHousing Australia – 0447 069 812