Labor has announced a ten-year plan to build 250,000 new homes across Australia, including 20,000 during its first term in government if it wins the election.
The $6.6 billion investment would see 250,000 new homes for low income and working families, key workers such as nurses, police, carers and teachers and women over 55, the fastest emerging group of Australians at risk of homelessness.
Subsidies of $8,500 per year would be offered to investors building new homes in return for cheaper rent for eligible tenants.
Opposition leader Bill Shorten unveiled the multibillion-dollar plan in his address yesterday at Labor’s three-day national conference in Adelaide.
“Building more affordable housing is infrastructure policy. It is cities policy. It is jobs and productivity policy,” he said.
The plan would see a family paying the national rental average save up to $92 each week.
“When you provide an affordable home for hard-working people, you give them the level playing-field and fair start they need,” he said.
Shorten said Labor would work with the states and territories, local councils, and community housing providers to make sure the rollout of homes were built “where they’re needed most” and would “go to the people who need them most”.
“Not foreign investors, nor international students.”