The Future of Social Housing

Social housing has been a vital component of Australia's residential sector for decades, and much like the broader market, it is always evolving. As the cost of living crisis becomes more pressing this year, the issue of housing availability has dominated the national conversation.

What is the current state of social housing?  

Affordable housing remains a hot topic in Australia. With 3.8 per cent of Australians currently residing in social housing, it is vital that these dwellings are safe, suitable, and widely available.  

Australia is currently home to around 430,000 dwellings classified as social housing – a number which has barely risen in the past 20 years. Due to a sharp increase in the cost of living and a continuous rise in Australia’s population, demand for social housing is on the increase while supply struggles to keep up, leaving many residents unable to afford a roof over their head. 

What initiatives are in the pipeline? 

The National Housing Accord is a landmark government agreement addressing housing affordability. The objective of the accord is to provide the country with one million strategically situated homes near employment centres and public transportation. Construction is scheduled to commence in 2024 and unfold across a span of five years. 

The Housing Australia Future Fund will provide a sustainable funding source to increase housing supply and improve service delivery. It will seek to draw in investments from state and territory governments as well as private providers, which will go into building 20,000 new dwellings. Many of these will be allocated to women and children impacted by domestic violence, older women at risk of homelessness, and frontline workers.  

The Australian Government is also establishing National Housing Supply and Affordability Council which will be responsible for independently advising the government on housing policy. The council’s responsibilities will include reporting on key issues, offering recommendations and strategies to enhance housing availability, and advocating for consistent data gathering.  

Social housing remains a pressing issue in Australia, as demand outpaces supply. The National Housing Accord, Housing Australia Future Fund, and the establishment of the National Housing Supply and Affordability Council highlight the government’s commitment to addressing this problem. These combined efforts will gradually result in more social housing becoming available to those who need it most.