Labor's $10b housing fund passes parliament

The news: After months of back and forth, the federal government has pushed its $10 billion signature housing investment fund through parliament after striking a deal with the Greens.

The numbers: The government says the fund will deliver 30,000 new social and affordable rental homes in the its first five years, including 4,000 homes for women and children impacted by family and domestic violence and older women at risk of homelessness. A minimum of $500 million will be spent annually as part of the Greens deal. The minor party also secured a further $1 billion on top of the $2 billion originally promised for social and affordable housing supply. The fund will deliver $200 million for repairs and improvement of housing in remote Indigenous communities, $100 million for crisis housing for women and children and $30 million for homeless or at risk veterans.

The context: The legislation will deliver the single biggest investment in affordable and social housing in more than a decade. It comes as many Australians struggle to find rental accommodation and amid soaring rental prices.

What they said: "This will be life changing legislation that will help generations of Australians," Prime Minister Anthony Albanese said in a statement.

"It's not even a drop in the bucket ... This is 6000 homes a year over five years. At the same time, this government is bringing in 1.5 million new migrants," Opposition housing spokesman Michael Sukkar said.