Skip to main content
affordable housingFederal Governmentfundinggood newsHousing & HomelessnessState Government

$2 billion Social Housing Accelerator To Deliver 769 New Homes For Victoria

MEDIA RELEASE 20 November 2023

The Albanese Government’s Social Housing Accelerator will build up to 769 homes for Victorians who need them, in partnership with the Allan Labor Government.

As part of the $2 billion Social Housing Accelerator, Victoria has received almost $500 million from the Commonwealth to deliver these additional homes. All the Commonwealth funding for these homes must be committed by Victoria by 30 June 2025.

The Federal Government on Tuesday released their final implementation plans for the $2 billion Social Housing Accelerator which show how many homes state and territory governments will deliver with funding from the Commonwealth.

This is another example of the Albanese Government working with the Allan Labor Government to build more homes.

Today’s announcement builds on the new $10 billion Housing Australia Future Fund and agreement by National Cabinet to deliver the most significant housing reforms in a generation.

This agreement includes a new national target to build 1.2 million new well‑located homes, the National Planning Reform Blueprint, and A Better Deal for Renters.

At National Cabinet, the Albanese Government also invested a further $3 billion to the New Homes Bonus to incentivise states and territories to undertake the reforms necessary to reach the 1.2 million well‑located homes target.

A new Housing Support Program will also provide another $500 million to help local and state and territory governments deliver new housing supply in well‑located areas.