Doubts on Labor’s $3.5b fast-tracked housing plan

Phillip Coorey and Tom McIlroy

Aug 16, 2023 – 6.05pm

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The Albanese government has offered state and local councils $3.5 billion to fast-track the construction of 1.2 million homes over the next five years, in a bid to boost housing supply.

Less than two months after giving the states a one-off, $2 billion grant to immediately build or refurbish social and affordable housing, Prime Minister Anthony Albanese put $3 billion in “performance bonuses” on the table to encourage the states to accelerate land release, planning and approvals processes to build “well-located” homes.

Phillip Coorey is the political editor based in Canberra. He is a two-time winner of the Paul Lyneham award for press gallery excellence.

Tom McIlroy is the Financial Review’s Canberra bureau chief based in the press gallery at Parliament House. He was previously the AFR’s political correspondent.