Audit warns government risks missing 40,000 home target despite high costs
An audit of the $10 billion Housing Australia Future Fund warns that the government may fail to meet its target of 40,000 affordable homes. The report highlights concerns over high costs per unit and a lack of clear responsibility within the Treasury department.
Why it matters
It questions the efficacy of a major government policy designed to address the housing affordability crisis, suggesting significant taxpayer funds may be underperforming.
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Share A A A There is a substantial risk the government will fail to meet its target of 40,000 affordable and social homes despite spending more than $770,000 on each new house over the next 25 years, an audit of the $10 billion Housing Australia Future Fund has found.
Compiled by the independent auditor-general, the report into the fund – a centrepiece of the government’s housing agenda since it came to office – found the Treasury department had failed to take full responsibility for the scheme, which will cost future taxpayers billions of dollars in extra payments through the late 2030s.
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