This initiative increases NHFIC's liability cap from $5.5 billion to $7.5 billion from 1 July 2023, enabling the organisation to provide more low-cost, long-term finance to community housing providers.

The increase, delivered through NHFIC's Affordable Housing Bond Aggregator, is expected to support approximately 7,000 new social and affordable dwellings. This expansion comes in response to NHFIC's State of the Nation's Housing 2022-23 report, which projected a housing shortfall of 106,300 dwellings over the five years to 2027, driven by stronger-than-anticipated population growth, construction cost pressures, and interest rate increases.

"Minister for Housing, Julie Collins MP, stated the financing boost will reinforce the Albanese government’s commitment to deliver more affordable housing.

“The Albanese Labor Government was elected with an ambitious housing agenda,” Ms Collins said.

“This boost in the Budget will help get more Australians into affordable rental homes sooner.

“This is action that will have a real impact on people’s lives, and will support our plans to build tens of thousands of additional social and affordable rental homes right across the country.”"

[1] https://www.brokerdaily.au/property/17903-labor-pledges-2bn-towards-affordable-housing

[2] https://www.housingaustralia.gov.au/sites/default/files/2024-04/housing_australia_corporate_plan_2023-24_0.pdf