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$35 million affordable housing commitment

Media Releases

Date : 31 January 2019

THE HON JOSH FRYDENBERG MP
Treasurer

SENATOR THE HON ZED SESELJA
Assistant Minister for Treasury and Finance

MEDIA RELEASE

31 January 2019

$35 MILLION AFFORDABLE HOUSING COMMITMENT

The Liberal National Government today welcomed the inaugural financial commitment of the National Housing Finance and Investment Corporation (NHFIC) to support affordable housing options for more than 9,000 people in New South Wales.

The NHFIC was established as part of our Government’s comprehensive housing package to operate an affordable housing bond aggregator for more private and institutional investment in lower-cost housing and cheaper and longer-term finance to registered community housing providers. The NHFIC will also administer the $1 billion National Housing Infrastructure Facility which will invest in critical infrastructure to unlock new housing supply.

Treasurer Josh Frydenberg said NHFIC’s first loan of $35 million would support Hume Community Housing to deliver on a key element of the Government’s comprehensive housing affordability plan to improve housing outcomes for all Australians.

“This commitment is a key milestone toward NHFIC building a loan portfolio with community housing providers that will see it issue its first affordable housing bond in coming months,” the Treasurer said.

“The Liberal National Government is committed to improving housing outcomes for Australians, and this first commitment by NHFIC comes at an opportune time for Hume, who are set to assist an additional 4,600 people in September of this year in Maitland and Port Stephens.”

“Access to affordable housing in our regions, including the Hunter Valley sites Hume will take on this year, allows Australians to access affordable housing and takes the pressure of roads in major cities.”

Assistant Minister Seselja said Hume was one of the largest community housing providers in New South Wales, Already supporting more than 4,500 Australians by providing affordable housing and services, and would soon support affordable housing for over 9,000 people.

“By accessing this loan through NHFIC, Hume will be better equipped to take on new affordable housing projects in Maitland and Port Stephens later this year, helping people in regions find housing and further reducing the pressure on roads in major cities,” Assistant Minister Seselja said.

“Hume’s affordable housing sites, like the one here in Fairfield, are helping those who need it access affordable housing, while also reducing congestion through easier access to public transport hubs.”

“With access to a $1 billion line of credit through the Affordable Housing Bond Aggregator, this first commitment by NHFIC will be followed by further announcements already in the pipeline,” Assistant Minister Seselja said.

ENDS

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