QLD Budget: funding doubled to build 5,600 social and affordable homes by 2027

Queensland Treasurer Cameron Dick said in his Budget the State Government will double the Housing Investment Fund to $2 billion to build 5,600 social and affordable homes by 30 June 2027.

The Housing Investment Fund provides subsidies, one-off capital grants and other support to encourage developers, builders, community housing providers, tenancy managers, institutional investors and superannuation funds to partner to develop, finance and operate social and affordable housing across the State.

The increase in homelessness in Queensland has been worse than in any other part of the nation. The QLD Council of Social Service said in March unmet need for social housing in the state now exceeds 100,000 households – five times the official housing waiting list number.

The Government also said it will invest $16.3 million over the next four years to support aged-friendly communities.