Senate Economics Legislation Committee [Part 2], , 4:01:50 to 4:08:06
Acting CEO Sarah Amos provides updates on social and affordable home completions and clarifies the distinction between contracting and completion targets for the Housing Australia Future Fund (HAFF).
Topics: Government spending, Infrastructure
Speakers: Sarah Amos, Senator Andrew Bragg, Ben Rimmer, Unknown Speaker, Speaker 30
the how's the fund going at the moment. So, it's it's done. Uh, is it 1,600
>> Uh, no, Senator, it's a bit more than that.
>> I think these questions are for the agency, not for you.
>> Thank you, Senator. Um, what I can advise is as at 30 um, so at the moment since launching the Housing Australia Future Fund, as at the 30th of September, 2026, >> Yeah. 22,631 social and affordable homes have been approved across funding rounds 1, 2, and three. Um, as of 30 September, almost 50% or more than 10,700 of these approved social and affordable homes have either been completed or are currently under construction. So to be specific, so the completed home number is now sitting at 2,62 in construction is 8,683. >> And there are more homes progressing through planning and pre-development. Senator,
>> so in terms of the targets that you were supposed to meet that we had an earlier interaction about
>> an apology Senator I should state it's Sarah Amos. >> Yeah, >> acting CEO Housing Australia.
>> So am I right in saying that you should have hit 6,000 >> uh by this stage?
>> Um Senator, I think this was a conversation we had last week.
>> Just wanted to tie it up. Yeah.
>> Yeah. So very happy to to close it out. So I believe the number you're referring to is from our 2000 202526 corporate plan for 202526. There was a target sort of a corporate target that set in there about what we would contract. It was a contracting target for that financial year and that contracting target was 6,000.
>> So that's your contracting. So you didn't have an actual completion target.
>> That's right, Senator. And I think what's important to point out in this regard is that when we think about the program, it was always structured, you know, the targets were structured taking into consideration where the program was up to. So in the early years of the fund, we always intens attended that a part of that was about contracting the program because really um any of these deals of these scales, particularly some of the ones of significant size where there's over quite a number of dwellings, these partnerships can take time to form. Like anyone who's trying to build a home, Senator, there are range of steps required. We need to secure land, secure finance, contract with builders, and we know what sits at the heart of enabling that to happen is contracting. So that really informed our targets.
>> Okay. So you will you do targets for completions for the remaining years of the fund.
>> Um Senator, so we talked a lot about targets last week as well. And so that's right. The Australian government has committed to deliver 40,000 social and
affordable homes. Everyone knows that by
30 June 2029. We as a corporate entity have developed some targets to guide our delivery program and they're set out in our 2627 corporate plan.
>> So the are these contracting targets or these completions?
>> This is a so it actually includes well it includes two types of targets. One is a funded target and one is a completed target.
>> Well, do you mean a completed home or not?
>> That's that means a completed home.
>> Completed home. Okay. Well, that's we just want some simple answers here. These are simple questions. So, how many are you supposed to have done by the end of this financial year?
>> So, the target for the end of this financial year, and apologies, Senator, um it's 3,900.
>> Okay. And next year,
>> next year, as set out in our corporate plan at the moment, it is I'm just doing the maths on the spot. Um it is 11,600
>> Okay. And today we're at 1,600
>> and sorry I should say they are cumulative targets and yes by the end of that it's accumulate. So 3,900 that was it be included in the following year and then by the end of by 2829 the rem.
>> Sorry Senator you just said something that uh is not correct. >> Sorry I missed. >> It's not 1,600 today.
>> It's 2,000. Yes, you're right Senator. So as at 30 September um 262 social and affordable homes have been delivered.
Okay. That under the half
>> 2062.
>> Okay. And did you have targets for completions for prior financial years or did you only have targets for contracts?
>> Um Senator, for our corporate plans, we set out targets for contracts and that was guided by the stage of what we expected the program to be up to.
>> Okay. So when did you start having targets for completions? The targets
that are set out in our corporate plan for 2627 has completion targets. Senator,
>> this is the first time.
>> This is right, Senator.
>> Okay. This is this is Senate estimate. So, we ask a lot about targets and about what you're doing with taxpayer funds. So, this is the first time. So, this is what 20 26 27. Um, and your target is 3,900.
>> Sorry, Senator, let me find that again. It is >> 3,900.
Okay. Uh okay, that's good. And so then that should I imagine working backwards from the 40,000 or 30,000
>> it is. So the senator the target is under the half. It was 30,000 which is 20,000 social homes 10,000 affordable. There's also the national housing accord and that has an additional 10,000 affordable. We we call the half a combination with a shortand for both arrangements which brings us to the target of 40,000 homes.
>> Yeah. And the 40,000 is due by 2930.
>> 30 June 2029.
>> 30 June 2030.
>> 30 June 2029.
>> 2029. Okay.
>> Yes. Senator.
>> So by the end of this financial year,
>> In delivery, Senator,
>> I understand that. Yeah. So the view is that you build it up rapidly in the last couple of years of it. That's the that's
>> Senator, if if I may jump in the
>> I think it's all good. I think we're just making progress here. I'm just getting simple answers and simple questions. So that's that's fine.
>> And the contracted numbers, Senator, should give more confidence of the the pace of delivery over time.
>> That's helpful. Thank you. Um how many