Analysis provided by the Parliamentary Library predicts that Labor’s housing plan will deliver only 3% of the social housing Australia will need by 2032.
According to estimates provided by the Parliamentary Library, Australia currently has a shortfall of 524,200 social housing dwellings, and this is projected to grow to 670,600 dwellings by 2032.
This estimate takes into account the number of people who are homeless, currently on social housing waiting lists and low-income renters who are in rental stress, to provide an estimate of the total unmet need for social housing dwellings in Australia.
Under Labor’s policy, the Housing Australia Future Fund will build 4,000 social houses each year over 5 years, a tiny fraction of what is needed.
As stated by Max Chandler-Mather Greens Federal Member for Griffith:
“Housing in Australia is in crisis and Labor’s plan falls short by 97%, which is a pretty spectacular failure.”
By building only 3% of the social housing Australia needs, Labor is guaranteeing the housing crisis will get worse – millions will remain homeless, stuck for years on social housing waiting lists or in serious rental stress.
“The Federal Labor Government plans on spending $224 billion over 10 years on the Stage 3 tax cuts, but only $10 billion on building social and affordable housing, which is a real kick in the teeth for the hundreds of thousands of people in desperate need of a home.”
“The Greens plan would see at least 250,000 public and affordable homes built over 5 years, and 1 million over 20 years, which is exactly what we need to ensure everyone has a place to call home.”
“We have the capacity, money and resources to build enough public housing for everyone who needs one, we just need to break the hold banks and property developers have over our political system.”