Industry ready to build now housing bill has passed

Shovel-ready projects can soon get underway and super funds will start considering investment opportunities now the federal government’s signature $10 billion housing promise has passed parliament.the government secured the Greens’ support with the promiseThe delay in getting the bills through parliament means community housing providers, investors and the housing corporation have been able to do preparatory work.Housing Minister Julie Collins said the passage of the bills was a significant win.

The government has said at least $500 million a year in interest earned on the fund will be used to help build 30,000 social and affordable homes in the first five years.Alex Ellinghausen Large institutional investors will also start looking at affordable housing now there is greater long-term certainty around the federal program.

While it will take time for the government’s fund to start providing returns, it has separately earmarked billions of dollars to be spent on housing in the meantime.Social Housing Accelerator Australian Institute of Health and Welfare figures show that in 2021-22, 11 per cent of households waited five or more years to be allocated public housing, 43 per cent waited one to five years and 46 per cent waited a year.

“We need to see investments like [the accelerator] every single year. The social housing shortfall is 640,000 homes,” she said.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Defense industry grapples with ‘great uncertainty’Shadow Defence Minister Andrew Hastie says there's 'great uncertainty' in the defence industry. 'Needless to say, again, great uncertainty for the defence industry,' Mr Hastie told Sky News Australia. 'You talk to any of the defence industry people here now and how they're feeling with the government. 'There's a lot of uncertainty, they're having to let people go. 'People are making final investment decisions, and they're looking offshore for work.'
Source: SkyNewsAust - 🏆 7. / 78 Read more »

Europe’s solar industry faces bankruptcy over Chinese importsThe EU’s efforts to manufacture more green technologies are being undercut by cheaper rivals.
Source: FinancialReview - 🏆 2. / 90 Read more »

Next generation of female tradies learn carpentry skills to counter male-dominated industryTwo Sheds aims to address the entrenched gender gap in the building industry by providing community-based women's and children's woodworking and carpentry skills programs.
Source: abcnews - 🏆 5. / 83 Read more »

Langton's inner-city 'grievance industry' is widening the gapIn the estimation of Marcia Langton, I either suffer from “base racism” or “sheer stupidity” – so which is it, professor?
Source: SkyNewsAust - 🏆 7. / 78 Read more »

‘Reverse the destructive business model’: Industry push for re-modelled Qantas BoardUnions are calling for a complete reset of Qantas’ leadership as the High Court’s landmark verdict against the national carrier is celebrated industry-wide.
Source: SkyNewsAust - 🏆 7. / 78 Read more »

Sexual assaults and ‘ritualised violence’ uncovered in review of Victoria’s racing industryRacing integrity commissioner’s report finds abuse and assaults have occurred ‘unchecked’
Source: GuardianAus - 🏆 1. / 98 Read more »