Shelter WA - Housing Australia Future Fund

The WA Museum is named Boola Bardip.
As we know, that is Nyoongar language for “many stories”.
Already this Museum holds the stories of referendums where WA voted yes, including at Federation.
Western Australians have a chance to add another story to the WA Museum on 14 October.
A new story about the oldest continuing culture and their rightful place in our Constitution.
I am proud to be part the Albanese Government giving Australians the opportunity to vote for Constitutional Recognition through a voice.

Thank you to Shelter WA and CEO Kath Snell for the invitation to be here.
It is a true honour to represent Minister Collins at this event.
I hope my speech will show that Minister Collins has, in less than one and a half years, done more in housing than many would do in an entire political career. 
So it is an honour to represent her.
I am also pleased to be here because I admire the work you all do.
Helping Western Australians find the stability of a place to call home.
Helping them to build new foundations both physical and metaphorical.
I believe that safe, secure and affordable housing is central to the security and dignity of all Australians.
Before I go to policy detail, let me tell you about a few of the homes of my family.
My dad grew up in public housing.
Ron Gorman was the son of a single mum.
And public housing gave him and his mum opportunity.
Opportunity for her to work as a public servant.
Opportunity for him to go to university and meet my mum.
My first home as a child was on Hampton Road, opposite Fremantle Prison
Fremantle Prison back then was not a World Heritage Listed tourism site.
It was a working prison.
Mum and dad recall they would occasionally get a call alerting to an escapee.
Fremantle before the America’s Cup was prison and port.
Our home was probably the cheapest house in Freo.
But it enabled my mum and dad to raise me.
It enabled them to work as teachers educating the next generation.
These days, I live with my wife Jess, and our children in North Perth.
 
Flyers complaining about increasing density sometimes enter our letterbox.
Sadly those flyers and campaigns against density increase during Local Government elections.
People who seek local government office just so they can say no.
Building mini-noalitions across the suburbs of Perth.
Residents deserve so much more from their local government councillors.
Good quality, affordable density is the future.
A social good. An environmental good. An economic good.
Just good.
Any local government candidate who tells you otherwise is wrong.
And I will always welcome public, social and affordable housing in my neighbourhood.

The Albanese Government has an ambitious housing agenda.
Ambitious.
So ambitious that housing policy was top of the agenda at the recent National Cabinet.
Boosting housing supply is a government priority.
That means more social housing is a priority.
More affordable housing is a priority.
More homes to rent is a priority.
More homes to buy is a priority.
And the Albanese Government is making sure it is a priority of other governments.
National Cabinet set a new national target for 1.2 million well-located new homes and agreed to a National Planning Reform Blueprint.
And the Government committed to a $3 billion New Home Bonus.
This Bonus will incentivise states and territories to undertake reforms to boost supply and increase affordability.

ACTION
Let’s look at the Albanese Government’s policy action to put more people in homes.

One, the Government established the Regional First Home Buyer Guarantee three months early.
Helping regional Australians purchase a home with as little as a 5 per cent deposit and avoiding paying Lenders’ Mortgage Insurance.

 
Two, the Government widened the remit of the National Housing Infrastructure Facility.
Making up to $575 million available to invest immediately in social and affordable rental homes, with projects already underway.

Three, we are working with the states and territories through the National Housing Accord and National Cabinet.
This will support planning, zoning and other reforms to contribute to the new national target of building 1.2 million new well-located homes over five years from 2024. And investing $350 million in additional federal funding to deliver 10,000 affordable rental homes over five years from 2024. As part of the National Housing Accord – matched by the states and territories.

 
Four, we established the National Housing Supply and Affordability Council.
To provide expert advice to Government on housing supply and affordability.
Legislation just passed through Parliament will establish it as an independent statutory advisory body.

Five, this year’s Budget included even more.

• The Budget delivered the largest increase to Commonwealth Rent Assistance in more than 30 years.
  A 15 per cent increase in the maximum rates.

• The Budget increased the National Housing Finance and Investment Corporation’s liability cap by $2 billion.
  This provides lower cost and longer-term finance to community housing providers through the Affordable Housing Bond Aggregator.

• The Budget included tax incentives to encourage more build-to-rent developments to boost new supply in the private rental market.

Six, the Government is expanding eligibility for the Home Guarantee Scheme, which helps people purchase a home sooner by reducing the deposit they need to save. 

Seven, we are establishing Help to Buy, starting next year.
A new program to make it easier for Australians to buy a home.
It was announced by Prime Minister Albanese right here in Perth.
All states have agreed at National Cabinet to progress legislation so the scheme will run nationally.

Eight, in June, we announced the new $2 billion Social Housing Accelerator to deliver thousands of new social homes across Australia, with the Government delivering more than $209 million right here in Western Australia. 
This is about getting people into homes that are safe, secure and affordable. 

HOUSING AUSTRALIA FUTURE FUND
Now to the Housing Australia Future Fund.
When I started writing this speech it included the line:
“We remain committed to the Housing Australia Future Fund bill currently before Parliament”.
Because it hadn’t passed the Parliament.
Last week that changed.
The HAFF is now written into Australian law.
It is the start of a big new story.
The Future Fund was established in 2006.
This too is the start of something big.
So big that it is the single biggest investment in social and affordable rental housing by a federal government in more than a decade.
In the first five years it will support 30,000 new social and affordable homes.
 
National Housing Finance and Investment Corporation
Now to the National Housing Finance and Investment Corporation (NHFIC). 
NHFIC administers the Affordable Housing Bond Aggregator (AHBA).
Providing low cost, long-term loans to registered community housing providers.
I am pleased the NHFIC Board has approved $80 million in loans under the AHBA in WA since it started.
NHFIC also administers the National Housing Infrastructure Facility.
This provides concessional loans and grants for housing-enabling critical infrastructure to accelerate new housing supply and supports social and affordable housing. 
NHFIC also administers the Home Guarantee Scheme (HGS), which provides support for eligible home buyers to buy a home sooner.  
From 22 May 2022 to 31 July 2023, the Home Guarantee Scheme has supported over 7,800 Western Australians, issuing around 5,800 guarantees.
This includes more than 900 Australians living in regional WA, and 575 single parents and carers. 
Of course, with the passage of legislation last week, NHFIC will soon be renamed Housing Australia, with its functions also streamlined.

National Housing and Homelessness Plan
Finally, we know too many people are struggling to find a safe and affordable place to buy, to rent or to spend the night.
We are providing an additional $67.5 million of funding to the states and territories to help tackle homelessness challenges.
This is part of a one-year extension to the National Housing and Homelessness Agreement.
We have released an Issues Paper on Housing and Homelessness in Australia.
What we want to see is more Australians with a safe, affordable place to call home.
The Issues Paper is an invitation.
For you as housing professionals, and for people experiencing housing challenges, to share ideas and experiences.
Help your customers and clients do the same.
Answer the online questions or be inspired by today’s conference and write a submission.
 
CONCLUSION
Thank you to the Shelter WA for today’s discussion.
Thank you for the opportunity to talk about the place I call home, in the electorate I call home.
And thank you for allowing me to share our ambitious housing agenda.  
I look forward to hearing how you see us working together.
Bringing Western Australians together with shared ambition for more houses here, and across Australia.
Thank you.