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The Auditor-General responded on 31 July 2025 to correspondence from Senator Andrew Bragg dated 3 July 2025, requesting that the Auditor-General conduct an investigation to examine Housing Australia Future Fund's financial performance to 30 June 2025.
31 July 2025
Senator Andrew Bragg
Senator for New South Wales
Parliament House
CANBERRA ACT 2600
By email: Senator.Bragg@aph.gov.au
Dear Senator Bragg
Request for a performance audit of the Housing Australia Future Fund
Thank you for your correspondence dated 3 July 2025 requesting a performance audit of the Housing Australia Future Fund’s (HAFF) financial performance to 30 June 2025. You asked that the audit consider the expenditure of $277 million of allocated funds from 31 March 2025 to 30 June 2025; and expressed concern about the quantity and quality of housing stock purchased with these allocated funds.
My office has made preliminary enquiries with the Department of the Treasury (Treasury) about the matters in your letter. Treasury advised the ANAO on 30 July 2025 that on 27 June 2025, $276,636,835 was transferred by Treasury to Housing Australia for grants and availability payments for HAFF Facility Round 1 and 2 projects. Treasury further advised that these funds had not been spent as at 30 June 2025.
Your letter stated that the Fund has spent $223 million of the $500 million. Treasury advised the ANAO on 30 July 2025 that $223,363,165 was transferred from the HAFF Special Account to the HAFF Payments Special Account and Federation Reform Fund for the Government’s acute housing commitments administered by the Department of Social Services (DSS), Department of Veterans’ Affairs (DVA) and the National Indigenous Australians Agency (NIAA). Treasury further advised the ANAO on 30 July 2025, that to date, $13,606,639 has been expended to HAFF program proponents.
My office has confirmed that the transfers from the HAFF Special Account were processed during the 2024–25 financial year. While the funds allocated to the HAFF Special Account are maintained by Treasury, payments from the HAFF Payments Special Account and the Federation Reform Fund are approved and processed by Housing Australia, DSS, DVA and NIAA, as indicated above on an as needs basis. The funds have therefore been transferred from the HAFF Special Account to the HAFF Payments Special Account and Federation Reform Fund for draw down by the relevant agencies. As advised by Treasury, funds are not yet fully spent as at 30 June 2025; and will be expended in future financial years.
I have considered the matters you raised and advice from Treasury and determined the current topic Design and Implementation of the National Housing Accord and the Housing Australian Future Fund on the Australian National Audit Office (ANAO) 2025–26 Annual Audit Work Program (AAWP) remains appropriate.
If I decide to commence a performance audit, detail will be provided on the ANAO Performance audits in progress website.
Yours sincerely
Dr Caralee McLiesh PSM
Auditor-General
3 July 2025
Dr Caralee McLiesh PSM
Auditor-General
Australian National Audit Office
GPO Box 707
Canberra ACT 2601
By Email: ag1@anao.gov.au
Dear Dr Mcliesh
I am writing to request that the Australian National Audit Office ('ANAO') undertake a performance audit into the Housing Australia Future Fund - specifically, their financial performance to June 30 2025.
The Housing Australia Future Fund is allocated a minimum annual disbursement of $500 million, and according to the Department of Finance's Financial performance since inception to 31 March 2025 disclosure update, the Fund has spent $223 million of the allocated $500 million in allocated funds.
I therefore request that a performance audit is conducted to ascertain where the remaining $277 million of allocated funds has been spent. It appears that $277 million may have been spent in a short time frame - from 31 March 2025 to 30 June 2025 - and this raises concern as to the quantity and quality of housing stock purchased with the remaining allocated funds.
I believe it is appropriate that the Auditor-General exercise its power under section 11 of the Auditor-General Act 1997 and conduct an extensive review of the Housing Australia Future Fund's spending of allocated monies, in the interests of transparency and accountability relating to the use of public funds.
I look forward to your consideration and response.
Your sincerely,
Senator Andrew Bragg
Liberal Senator for New South Wales