THE URBAN DEVELOPMENT INSTITUTE OF AUSTRALIA (UDIA) is Australia’s peak representative body for all segments of the urban development industry.

180629 Industry backs infrastructure facility

24-Jul-2018

A $1 billion perpetual facility to finance housing-related infrastructure approved by Parliament on Thursday will help tackle the housing affordability crisis, in a move embraced by Urban Development Institute of Australia (UDIA).

“The National Housing Infrastructure Facility is a godsend,” said Mr Coningham, UDIA Executive Director.

“We are proud to have partnered with the Federal Government to deliver real reform, which will make a meaningful difference to everyday Australians.

“It is a great example of how government and industry can work together to deliver real results.”

The NHIF will fund loans, grants and equity investments into local infrastructure to unlock housing supply, improving affordability.

“Local infrastructure investment is critical in the current housing climate. One of the biggest challenges faced by local governments and developers is financing the often-unnoticed local infrastructure which is critical to creating new communities.”

The legislation passed on Thursday also implements the ‘bond aggregator model’ to help finance affordable housing projects. The model aggregates the equity from housing providers, enabling easier access to finance for affordable housing projects.

“UDIA is proud to have advocated for the bond aggregator.

“Innovative solutions like the bond aggregator are the way forward. Blunt instruments which only add costs such as inclusionary zoning do not work, so we congratulate the Federal Government for showing leadership and providing real solutions.”

Contact: Kirk Coningham 0417 142 467

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