Australian PM Offers Cash to States to Help Ease Housing Crisis
- Rents recorded biggest increase in 14 years in second quarter
- Government’s signature housing laws remain stuck in the Senate
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Australian Prime Minister Anthony Albanese is offering extra cash to state and territory governments that boost housing supply as a surge in immigration and dwindling construction worsen an accommodation squeeze.
Albanese announced A$3 billion ($1.9 billion) in new funding for governments that exceed their home-building targets at a press conference on Wednesday. It was among a suite of measures to tackle housing shortages that emerged from his meeting with the eight state and territory leaders, known as the National Cabinet.