Loans fund an additional 2,400 social and affordable homes in 2023-24
Housing Australia has approved $876.8 million in funding for more than 2,400 social and affordable homes through its Affordable Housing Bond Aggregator (AHBA), according to the organisation’s 2023-24 annual report.
This year, Housing Australia issued three bonds, including additional taps to existing bonds, with a combined value of $484 million to support AHBA loan facilities. Community housing providers (CHPs) are expected to save an estimated $140 million in interest and fees over the life of these loans.
In addition, Housing Australia is backing the development of 2,242 more social and affordable homes, supported by $221.3 million in approved financing through the National Housing Infrastructure Facility (NHIF).
Housing Australia’s annual report also highlighted several key achievements for the year, including the launch of the first funding rounds for the Housing Australia Future Fund Facility and the National Housing Accord Facility. Housing Australia also helped over 58,000 Australians, including 18,000 in regional areas, to purchase homes sooner.
In a joint statement, Housing Australia chair Carol Austin (pictured above left) and chief executive Scott Langford (pictured above right) highlighted the organisation’s expanded role and ongoing efforts to address Australia’s housing challenges.
“As the national housing authority, Housing Australia continues to support pathways to home ownership and provide investment flows to increase the supply of social and affordable housing,” they said. “Our expanded mandate will help more Australians to access affordable, safe and secure housing, providing them with greater stability from which to build their lives, access employment, and secure a more stable future.”
Austin and Langford noted that 2023-24 was a pivotal year for the organisation, as it transitioned from the National Housing Finance and Investment Corporation (NHFIC) to Housing Australia, taking on additional responsibilities from the federal government.
“Over the year, housing supply and affordability continued to impact many Australians,” the statement said. “Against this backdrop, Housing Australia supported the delivery of a range of Australian Government programs that are making a meaningful difference to many people around the nation.”
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