Labor doubles down on corporate housing

SENATOR ANDREW BRAGG

Shadow Assistant Minister for Home Ownership

Liberal Senator for New South Wales

20 February 2025

STATEMENT

Labor doubles down on corporate housing

When it comes to housing, all the Albanese Labor Government is doing is throwing taxpayer money into a black hole for their favourite vested interests.

Labor has a sick fixation with corporate housing where big investors own houses, not Australians.

It is now apparent that just like their Build to Rent plan, the Housing Australia Future Fund (HAFF) will pay big investors like super funds to build and own Australia’s housing stock.

Meanwhile, Labor has made home ownership unattainable for working Australians.

Labor’s housing policies have delivered no new homes in three years. Zero, ziltch, a duck.

When asked how many homes have been completed under Labor’s HAFF, Penny Wong, the Leader of the Government in the Senate said last week: “I'm advised that 24,000 homes are in the pipeline through direct Commonwealth investment, including 13,700 under round 1 of the HAFF.”

Despite the HAFF being legislated 16 months ago, it hasn’t delivered a single new home. All it has done is sign contracts it seems with Big Super.

Last week Housing Australia confirmed in a LinkedIn post that Big Super will be the largest beneficiary from the first round of the HAFF.

AustralianSuper and HESTA’s front “Assemble” has been granted the largest sum of taxpayer funds in this process.

This is the ultimate distortion of the Australian Dream. Labor should be upfront with its plans to crown the super funds as Australia’s landlords.

The government should now comply with the Senate’s Order to provide complete transparency of the contracts signed by Housing Australia.

The Minister should end the secrecy.

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HAFF Fact Sheet

November 2023 - HAFF legislated

September 2024 - Minister O’Neill announces the first houses to be built under the HAFF: The Albanese Labor Government is delivering more than 13,700 new social and affordable homes across Australia to deliver the biggest investment in social and affordable housing in over a decade.

The first round of Labor’s Housing Australia Future Fund and National Housing Accord programs will deliver 4,220 social and 9,522 affordable homes, including 1,267 homes for women and children escaping domestic violence and older women at risk of homelessness.

November 2024 - Housing Australia tells Senate Estimates just one contract has been signed

January 2025 - Housing Australia now says 12 contracts have been signed: Housing Australia is pleased to announce the approval of 12 project contracts within the initial pipeline of housing projects selected under Funding Round One of the Federal Government’s Housing Australia Future Fund Facility (HAFFF) and National Housing Accord Facility (NHAF).

Housing Australia does not specifically say who it has signed an agreement with in its public communications.

February 2025 - Housing Australia posts on LinkedIn that it is contracting with Big Super: It’s inspiring to witness projects enabled by the Federal Government’s Housing Australia Future Fund Facility (HAFFF) and National Housing Accord Facility (NHAF) come to life, with construction well underway in Kensington, and soon to follow in Ivanhoe, bringing much-needed housing to communities in Victoria.

Last week, Housing Australia announced the approval of 810 homes, which includes 579 social and affordable homes to be delivered by Assemble and their key partners.

According to their vague media release, the Ivanhoe, Victoria project would be the largest single investment.

[Ends]

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