The federal government has announced new measures to support renters and affordable housing. It will also introduce incentives to encourage investment in the rental market and increase the supply of affordable housing.
Julie Collins, Federal Minister for Housing and Assistant Minister for Homelessness, yesterday announced new developments for renters across Australia. Speaking in Launceston after a National Cabinet meeting in Brisbane, she highlighted the growing number of Australians who rent their homes, with around 35% of the population now renting.
Collins outlined plans to improve renters’ rights and give them a greater say in their tenancies, with a focus on creating consistency across states and territories. The government is also set to introduce incentives to encourage more investors to get involved in the rental market, including changes to withholding tax and an increase in depreciation for new build-to-rent properties.
The Minister also revealed an additional $2 billion in financing for the National Housing Finance Investment Corporation, which is expected to provide up to 7,000 social and affordable homes. This funding is in addition to the Housing Australia Future Fund, which will deliver 30,000 social and affordable rental homes over the next five years.
These initiatives represent the government’s commitment to addressing the growing demand for rental properties across the country, with Collins acknowledging that renters are facing tough times in the current market.
With the government’s $10 billion investment in social and affordable housing, it seems that help may finally be on the way for those struggling to secure a home of their own.
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The federal government has announced new measures to support #renters & #affordablehousing. It will also introduce incentives to encourage #investment in the #rentalmarket & increase the supply of affordable housing. #TheIndianSunhttps://t.co/6tSESQFGQm
— The Indian Sun (@The_Indian_Sun) April 29, 2023