An Albanese Labor Government will create a $10 billion off-budget Housing Australia Future Fund to build social and affordable housing and create thousands of jobs now and in the long term.

Each year investment returns will be transferred to the National Housing Finance and Investment Corporation (NHFIC) to pay for social and affordable housing projects.

Over the first 5 years, the returns will build around:

• 20,000 social housing properties
• 10,000 affordable housing properties for frontline workers

This will directly support 21,500 full-time jobs across the construction industry and broader economy, per year over 5 years natonwide – 1 in 10 direct workers onsite will be apprentices.