Government push for affordable housing | Canberra weather


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2,500 additional social and affordable housing units will be funded by the federal government as part of a $ 500 million boost to the sector. The additional funding will go to low cost funding for vulnerable Australians. The housing increase will be funded by the government, raising the liability cap of the National Housing Finance and Investment Corporation from $ 3 billion to $ 3.5 billion. Prime Minister Scott Morrison said the funding would make more housing available to those in need of housing. “We are proud of our record of helping Australians homeownership, and we are focused on (getting) these vulnerable Australians into social and affordable housing,” he said. Since the inception of the housing company in 2018, approximately 14,000 homes have been financed under the program, using low-cost loans to community housing providers. The increased funding will see 2,500 households funded on top of that. The $ 500 million increase in low cost financing was made following a statutory review of the housing corporation. The review, released in August, recommended giving the company a mandate to attract more funders to provide social housing on a larger scale. Since the inception of the company, more than 300,000 people have been helped to become homeowners. Associated Australian Press


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