Albanese government announces massive $2b package to deliver 65,000 new homes

The Albanian government has announced a $2 billion financing package aimed at delivering 65,000 new homes over the next decade.

Funding for the plan will be included in Tuesday’s budget, with a quarter of it earmarked for regional Australia.

The Local Infrastructure Fund aims to build infrastructure such as roads, water and electricity that would otherwise hinder housing development.

Funding will be directed to local governments and government service providers.

Of the $2 billion four-year package, $500 million is earmarked for housing development in regional areas.

The government has said it hopes the package will support the construction of 65,000 new homes over 10 years.

“We’re investing billions of dollars in this Budget to build more homes for Australians,” Treasurer Jim Chalmer said.

“It’s very difficult for many Australians to get into their own home right now and that’s why we’re investing in supply.

“Our housing plan is pro-aspiration and pro-investment.

“We are approaching this housing issue responsibly from every angle, and increasing supply is at the heart of this.

The government announced that the fund has increased housing spending to $47 billion since it came into government.