HAFF submissions to close in a week

Submissions regarding the Housing Australia Future Fund Bill number two will close within a week after the Labor government reintroduced the bill to the House of Representatives earlier this month.

Upon its reintroduction, the bill was referred by the Senate to the economics legislation committee for a second time, with a report to be provided by 24 October 2023.

The first time the bill was referred to the committee the submissions and report resulting from it recommended that the Senate pass the HAFF Bill.

To ensure the report is completed by the allotted date, the deadline for submissions for the inquiry is 29 August 2023.

However, the committee declared that it “is not obliged to accept every document it receives as a submission”, with it having the option to accept a document as correspondence or not accept it at all depending on the document.

The new inquiry into the HAFF Bill also stated that those who already submitted under the previous probe of the bill earlier this year did not need to provide an additional submission into the inquiry unless they have new information or views.

Industry submissions

Two of the organisations that took the opportunity to provide a submission to the original inquiry were the Housing Industry Association and Master Builders Australia.

In its original submission, the Housing Industry Association stated that “tackling housing affordability starts with making the supply of housing a national priority and improving affordability will enable more households to own their own homes”.

It said: “Supporting the delivery of all forms of houses along the housing continuum must be a priority. If supply falls in any one sector it will directly affect the affordability of housing in each of the other sectors.

“As the residential building industry reaches the end of the current cycle of home building, it is critical that Australia is well placed with information and facts about what the near and mid-term future for housing supply is. It is hoped that through this legislative package the federal government can take an active role in the oversight and guidance of housing supply across Australia.”

In Master Builders Australia’s original submission, the organisation also supported the HAFF Bill as the initial step to try and help ease the housing crisis.

The body said: “Master Builders supports the bill, as the first stage in the government’s broader agenda for housing reform. It’s a measured next step, building on the bond aggregator and formation of NHFIC to further develop a national social and affordable housing fund, while we are operating in a capacity constrained marketplace.

“It should also complement ongoing funding programs including a renegotiated National Housing and Homelessness Intergovernmental Agreement and Commonwealth Rental Assistance schemes. The government’s $10 billion investment in the Housing Australia Future Fund needs to be additional to this and not a replacement for the NHHA and Commonwealth Rental Assistance schemes.

“Master Builders Australia supports the continuation of the work of the National Housing Finance Investment Corporation (NHFIC) as Housing Australia and the key role it plays in delivery of housing programs. NHFIC is best placed to lead the delivery of the Albanese government’s housing agenda and new functions that are developed in the years ahead.”

Double dissolution possibility

The new inquiry came after the Albanese government refused to rule out a possible double dissolution election by reintroducing the HAFF Bill without a clear path through the Senate, blocked by what Prime Minister Anthony Albanese termed the “new No-alition” (made up of the Coalition, One Nation, and the Greens).

When Minister for Housing Julie Collins reintroduced the HAFF Bill she called on those who previously opposed it to support “housing for all Australians”.

Furthermore, the recent national cabinet meeting saw Mr Albanese achieve an agreement on a new national target to build 1.2 million homes over five years, along with modified rental reforms, but not the nationwide rent freeze that the federal Greens party was demanding for it to allow the HAFF Bill pass the Senate.

After the agreed upon national cabinet measures were revealed, Greens Leader Adam Bandt said: “From now on, every unfair rent increase is Labor’s fault. Labor has every seat bar one at national cabinet, and it’s now clear Labor’s policy is for unlimited rent increases.”

[Related: National cabinet agrees to new ‘ambitious’ housing target]