On Wednesday the Department of Treasury filled the highest post for the newly inaugurated National Housing Finance and Investment Corporation (NHFIC), appointing Mr. Brendan Crotty as its chair for a period of 3 years.
“Mr. Crotty will formally commence his appointment following passage of the enabling legislation for the NHFIC. He brings considerable financial acumen, business expertise and property sector experience to the NHFIC Board,” Treasurer Scott Morisson said in a statement.
Crotty will lead the NHFIC board in setting up an affordable housing bond aggregator to provide cheaper and longer-term finance for community housing providers. The NHFIC is also set to manage the $1 billion National Housing Infrastructure Facility, which will be invested in critical infrastructure to unlock new housing supply.
According to his profile, Crotty is presently a director of Brickworks Limited, General Property Trust and Dennis Family Holdings Pty Ltd . He has also held the same position in a number of property, construction and technology companies, but has resigned from most of these roles to be the NHFIC Chair. He was also the Chairman of Western Sydney Parklands Trust for 9 years until 2017 and was also the Managing Director of Australand Property Group from 1990 to 2007.
This announcement is in line with the government’s commitment to make sure that Australians have more opportunities to own their own home or access more affordable rental accommodation.
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