The National Housing Trust (NHT) says it will be spending $50.3 billion next year in order to commence the construction of 10,675 housing units.
This is despite the government's plan to continue its drawdown of $11.45 billion per year until the year 2031.
The $50.3 billion earmarked for housing expenditure next year will be $6.3 billion more than the $43.9 billion spent this year.
Housing expenditure is projected to be 92% of the NHT's total capital expenditure next year.
The NHT collected $57 billion in employee and employee contributions during the fiscal year 2023-24. This means that the $11.45 billion transferred from it during that year amounted to 20 per cent of its total collections.
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