Katy Gallagher (ACT, Australian Labor Party, Minister for the Public Service) Share this | Hansard source

I thank Senator Walsh for the question and for her advocacy on matters relating to housing and housing affordability, particularly in Victoria. I note that the announcement on the weekend will mean that her good state will receive in the order of just under $500 million so that there's extra investment going into affordable and social housing in the state of Victoria.

Research by Equity Economics has estimated that $257 million in homelessness support services and $122.5 million in domestic violence support services could be saved through more funding and investment going into social housing. That's why building more homes has been central to our first two budgets and to our overall economic plan.

This is one of the reasons why the Prime Minister and the Minister for Housing announced, on the weekend, the $2 billion social housing accelerator program, which will provide new money in the next two weeks for new social housing, including $50 million for my jurisdiction of the ACT. This will create thousands of homes for Australians on social housing waiting lists and will increase housing supply sooner, with all the funding to be committed by the states and territories within two years.

This continues the work of the new National Housing Accord, which is a shared ambition to build one million new homes over five years from 2024, and builds on the work of National Cabinet on renters' rights and planning reform. It will also build on the Albanese government's unlocking of $575 million in the National Housing Infrastructure Facility, which is currently being put to work to support new social and affordable rental housing. Also, on top of the investment in housing and homelessness services, it'll bring the total investment to $9½ billion in this financial year alone.