The Albanese Labor Government is continuing to implement its ambitious housing reform agenda, with National Cabinet making a series of new commitments.
These commitments include:
• A new national target to build 1.2 million well-located new homes over five years, from 1 July 2024;
• The New Homes Bonus, a $3 billion performance-based funding program, for states and territories that achieve over their Accord targets;
• The Housing Support Program, a $500 million competitive funding program for local and state governments to kick-start housing supply; and
• A Better Deal for Renters which includes developing a nationally consistent policy to require genuine reasonable grounds for eviction, moving towards limiting rental increases to once a year and phasing in minimum rental standards.
The Albanese Government has also announced that the Help-to-Buy plan will commence next year. This will help 40,000 low and middle income families buy their first home.