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.
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Phillip Coorey is the political editor based in Canberra. He is a two-time winner of the Paul Lyneham award for press gallery excellence. Connect with Phillip on Facebook and Twitter. Email Phillip at pcoorey@afr.com
Tom McIlroy was the Financial Review’s Canberra bureau chief.
