National Australia Bank pledges $39.3b to address housing crisis

Australia is not building enough homes to make housing accessible, the CEO said.

National Australia Bank (NAB) seeks to lend at least A$60b (around $39.31b) over the next five years to address Australia’s banking crisis.

NAB estimates that it could support 55,000 loans for first time home buyers, and the development of around 50,000 new homes.

In an open letter, NAB CEO Andre Irvine said that the financing is aimed at boosting housing affordability by 2030.

Of this, $19.65b (A$30b) is aimed at boosting the supply of commercial real estate development projects, where the underlying use is predominantly residential. This includes financing of specialist accommodation, including build-to-rent, student accommodation, land lease, and community housing.

The remaining half or A$30b is earmarked for first-time home buyers via the Australian Government 5% Deposit Scheme.

Irvine wrote that Australia is “not building enough homes to provide access to housing for all Australians.

“Housing is Australia’s biggest societal and policy challenge,” Irvine wrote in the open letter. “NAB recognises and embraces the opportunity we have to address this challenge.”  

(US$1 = A$1.53; as of 3 November 2025, Morningstar via Google)