NSW at risk of missing out under Anthony Albanese’s ‘token’ housing fund

Entrepreneur Dick Smith has hit out at the Prime Minister’s signature housing fund, which commits the same minimum number of homes to Australia’s most populous state as it does to Tasmania.

NSW is at risk of being short-changed by Anthony Albanese’s signature housing fund with the Prime Minister committing the same number of homes to Australia’s most populous state as he is to Tasmania and the ACT.

Mr Albanese has committed a minimum of 1200 new homes over the next five years to all states and territories under his Housing Australia Future Fund — failing to recognise that NSW is about 15 times as populous as Tasmania.

The fund was one of Labor’s biggest election policies but has faced fierce opposition from the Greens.

State and federal MPs are now vowing to hold the government to account as NSW grapples with a rental vacancy of just 1.5 per cent and median rent in Greater Sydney is up by a crushing 20 per cent.

Entrepreneur Dick Smith said the target was unfair to NSW with the state likely to cop the biggest share of the government’s ambitious immigration agenda.

Prime Minister Anthony Albanese has been dealt a huge blow with the delay of his housing fund. Picture: Martin Ollman

Entrepreneur Dick Smith said the policy was “not fair”. Picture: Richard Dobson

“I’m pro-immigration but at sensible levels. I’m incredibly concerned about the enormous immigration … that will push prices even higher,” he said.

“(The targets) don’t seem fair to me, it doesn’t sound fair. People go where the jobs are.”

Independent Fowler MP Dai Le said she will be at the government’s “heels” over their housing commitments.

“In NSW we have over eight million and Tasmania is about half a million — every single state and territory is crying out for housing …(but) it has to be fairly proportionately distributed,” she said.

Sydney has a rental vacancy rate of just 1.5 per cent. Picture: Simon Bullard

Independent Northern Beaches MP Michael Regan said a “per capita” arrangement was urgently needed.

“A per capita arrangement needs to be established as a minimum so that larger states who need it most are not missing out,” he said.

NSW Greens Senator David Shoebridge said 1200 homes will barely make a dent in the state’s wider housing shortage.

“Labor promising the same number of homes for Tasmania as it does for all of NSW is so obviously wrong,” he said.

“While 1200 homes over five years might make a small dent in Tasmania, it won’t do a thing in a state the size of NSW.”

Shelter NSW chief executive John Engeler said the government’s commitment was a “token” of what was needed.

“There are very very limited starting points, that’s a token of what is really needed in NSW,” he said.

Mr Engler said he is eager for the fund to pass parliament but has vowed to keep pushing government to give NSW its fair share.

“Some people would argue it’s crumbs; we think it’s seeds at best but it’s definitely time we plant them,” he said.

The pushback on the government’s targets comes as the Greens succeeded in delaying Mr Albanese’s signature policy until October.

Under pressure over his housing commitments, Mr Albanese announced an additional $2bn in social housing over the weekend.

“The Albanese Government has a wide range of housing policies that will deliver thousands of new homes for New South Wales,” a government spokesman said.

“The Greens should stop standing in the way of these homes.”

Originally published as NSW at risk of missing out under Anthony Albanese’s ‘token’ housing fund