The Federal Treasurer Scott Morrison annoucced the creation of an affordable housing bond aggregator, the National Housing Finance and Investment Corporation (NHFIC), as part of the 2017/18 budget.
The NHFIC will raise money at lower rates from the wholesale bond market for the use of not-for-profit community housing providers.
The government will provide $63.1 million over four years from 2017–18 (including $4.8 million in capital) to establish and run the NHFIC.
CHIA’s CEO, Peta Winzar, is one of the three-person Affordable Housing Implementation Taskforce, investigating the best method of introducing the NHFIC. The taskforce will report back to the government early 2017/18 financial year with the corporation due to begin operating on July 1, 2018.
The aim is to issue the first bonds later in 2018.