Treasury Faces Questions Over Labor’s 40,000-Home Housing Target
Concerns have been raised about the slow pace of progress of the $10 billion Housing Australia Future Fund program.
The Treasury Department is facing scrutiny regarding its ability to deliver 40,000 social and affordable homes by 2029 through Labor’s $10 billion housing program. Established in November 2023, the Housing Australia Future Fund (HAFF) initially aimed for 30,000 homes, a target later increased to 40,000. As of a recent parliamentary inquiry, only 2,199 homes have been delivered, prompting questions about the feasibility of meeting the deadline.
- The Treasury Department is being questioned about delivering 40,000 social and affordable homes by 2029.
- Labor’s housing program is valued at $10 billion (US$6.8 billion).
- The Housing Australia Future Fund (HAFF) was established in November 2023.
- The HAFF’s initial goal was 30,000 homes, later increased to 40,000.
- Currently, 2,199 homes have been delivered.
- Liberal Senator Andrew Bragg questioned the progress rate.
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