Australia·HousingNational Housing Accord and Housing Australia Future Fund: 1.2 million homes in five years
Announced in the October 2022 federal Budget, the National Housing Accord commits the federal, state and territory governments to a housing supply target, raised by National Cabinet on 16 August 2023 to 1.2 million new well-located homes over five years from 1 July 2024. Its main legislative instrument, the Housing Australia Future Fund Act 2023 (Royal Assent on 28 September 2023, in force since 1 November 2023), sets up a $10 billion fund whose returns finance social and affordable housing through the agency Housing Australia. Together with the Accord facility, the programme now targets 40,000 social and affordable homes by 30 June 2029; as at 30 June 2026, 1,529 of them were complete.
In forceCommencement fixed by proclamation (F2023N00456). The five-year Accord period itself starts on 1 July 2024.Updated: November 5, 2026