30.10.2025
National Australia Bank wants to lend at least $60 billion in the next five years to help address Australia’s housing crisis.
In an open letter to customers, government, developers and other key stakeholders, NAB CEO Andrew Irvine today announced the bank’s ambition to provide at least $60 billion in financing to boost housing affordability by 2030.
This ambition comprises:
$30bn in financing to boost supply of commercial real estate development projects where the underlying use is predominantly residential, and all financing of specialist accommodation, including build-to-rent, student accommodation, land lease, and community housing
$30bn in financing to support first home buyers via the Australian Government 5% Deposit Scheme
This ambition seeks to support both supply and demand challenges and could support ~55,000 loans for first home buyers and the development of ~50,000 new homes.
“Housing is Australia’s biggest societal and policy challenge,” Mr Irvine writes.
“We are not building enough homes to provide access to housing for all Australians, let alone achieve the dream of home ownership.
“NAB recognises and embraces the opportunity we have to address this challenge.”
NAB customer, Local: Residential’s Co-Founder and Co-CEO Matt Berg said NAB’s $60 billion ambition was a bold commitment to addressing Australia’s housing crisis at the right time.
“Our focus is on delivering homes that make a real difference in resident’s lives," Mr Berg said.
"Convenience, amenity and lifestyle are fantastic by-products of build-to-rent – but first and foremost we are putting a secure roof over people’s head and delivering housing at scale.
“We are working with NAB to not only provide this product to the market at a time of need, but also to institutionalise the sector and ensure that it can continue to supply the Australian housing market."
NAB CEO Andrew Irvine visiting Build to Rent project
Housing All Australians Founder and Executive Director, Robert Pradolin, welcomed NAB's new $60 billion financing commitment to housing affordability.
"Innovative financing models and ambitious targets are essential to achieve the national impact we need, but they require equally innovative technological infrastructure to deploy capital effectively and engage the entire property ecosystem," Mr Pradolin said.
"Housing All Australians is developing precisely this infrastructure, and we're pleased to see NAB, alongside industry, government and community, recognising that genuine collaboration and innovation are the path forward for addressing Australia's housing challenge.”
For more details on the ambition, read Mr Irvine’s letter (PDF, 86KB), opens in new window.
Notes to Editors – background to target rationale:
1) Amounts are calculated by reference to facility limits at origination. Where a development is subject to limit increases, this may result in financing being counted more than once towards the cumulative total. Financing included in the ambition may also be included in other targets and goals where that financing meets the criteria set for those targets and goals, for example NAB’s Environmental Financing Ambition and the First Nations Business Lending Ambition. There are several factors that may impact NAB’s ability to achieve our ambition, including broader regulatory settings, government incentive schemes, planning and approval timelines, construction supply and labour constraints and NAB’s ability to ensure it is achieving safe and sustainable growth.
2) Based on an average first home buyers loan of $545,056 (ABS 2024-2025)
3) Based on the average cost of a new detached house approved in Australia in 2024/25 of $492,410 (Housing Industry Association analysis of ABS data)
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