NHFIC and the NSW Government to deliver new social and affordable homes for over 100 people in Western Sydney

This is one of the first projects to be announced in NSW following the Federal Government’s widening of the National Housing Infrastructure Facility (NHIF), which is overseen by NHFIC, to include funding for the provision of new social and affordable housing. 

NHFIC has provided $23 million in-principal support for funding subject to LAHC successfully attracting a Tier 1 Community Housing Provider (CHP) for the project. LAHC will invite CHPs to participate in a procurement process, with NHFIC’s funding subject to a formal application for finance from the preferred CHP.

The successful CHP will be required to deliver 65 dwellings, comprising a minimum of 40 percent social, 40 percent affordable and 20 percent other diverse rental housing. Social tenants will be drawn from the public housing waitlist, with a focus on accommodating women over 55 and/or fleeing domestic and family violence. Affordable housing will be offered to key workers and students.

The preferred CHP is expected to be announced in the first half of 2023.

Construction is expected to start later this year on two of the three North Parramatta sites, with the third to commence following development approval.

Minister for Housing Julie Collins said, “We are not wasting a day when it comes to addressing Australia’s housing challenges and making sure more Australians have a safe and affordable place to call home.”

“We now have new projects underway across the country, and across New South Wales, thanks to our decision to unlock funding for more social and affordable rental housing.”

Minister for Housing and Homelessness Rose Jackson said, “The housing crisis is real and growing, and it’s only through innovative partnerships like this one, which leverages the expertise of the community housing sector and vital Commonwealth funding, that we’ll deliver more social and affordable housing sooner.”

NHFIC CEO Nathan Dal Bon said, “NHFIC will continue to partner with State and Territories to build more social and affordable housing, and with the Government’s widening of the NHIF, enables us to provide additional financial assistance, which is critical to the delivery of more housing.” 

“NHFIC’s financing will accelerate the delivery of housing where it is needed most and provide better housing outcomes for women at risk of domestic violence and key workers facing rental stress in Western Sydney.”

In November 2022, the Federal Government announced the widening of the National Housing Infrastructure Facility (NHIF), making up to $575 million available to invest in new social and affordable housing projects in addition to financing housing-enabling infrastructure. Under the NHIF social and affordable housing finance facility (NHIF SAH), NHFIC will be able to provide concessional loans and grants to eligible proponents to support the provision of new social and affordable housing.

About NHFIC - NHFIC’s mission is to improve housing outcomes for Australians. Established in 2018, NHFIC is a corporate Commonwealth entity that provides long-term and low-cost finance and capability building assistance to registered community housing providers (CHPs) to support the provision of more social and affordable housing. NHFIC lends, invests and provides grants to help finance the critical infrastructure needed to unlock and accelerate new housing supply. NHFIC supports home buyers by administering Government schemes that help them purchase their home sooner, and undertakes independent research into housing supply, demand and affordability in Australia. For more information and the latest data on our achievements, visit nhfic.gov.au  

Housing Legislative Package - the Federal Government has introduced legislation to transition NHFIC into Housing Australia, with expanded responsibilities to support delivery of their Housing Policy agenda. The legislation includes renaming NHFIC as Housing Australia with primary responsibility for delivering 40,000 new social and affordable homes over 5 years from 2024. This comprises 30,000 homes to be delivered with funding contributions from the Housing Australia Future Fund (HAFF) (20,000 social, 10,000 affordable) and 10,000 affordable homes under the National Housing Accord. These additional responsibilities are subject to the passage of the legislation. NHFIC will continue to deliver the Home Guarantee Scheme (HGS), the Affordable Housing Bond Aggregator (AHBA) and the National Housing Infrastructure Facility (NHIF, which was recently expanded as part of the Federal Government’s 2022 housing election commitments).