The head of one of Australia's largest property development companies will lead the federal government's new housing supply advisory body.
Mirvac Group CEO Susan Lloyd-Hurwitz has been selected to take the helm of the interim National Housing Supply and Affordability Council from next year.
Ms Lloyd-Hurwitz has previously held positions at Macquarie Bank and was on the board of the Property Council of Australia.
She will be joined by Housing Choices Australia managing director Michael Lennon as deputy chair.
The interim body will start on new years day and operate until the council is established permanently by legislation, a draft of which has been released this week.
The council is expected to advise the government on the development of a new national strategy to reduce homelessness, increase the housing supply and make it easier to buy or rent a home.
Housing Minister Julie Collins said the government wanted to ensure its investments were underpinned by expert advice.
"Ms Lloyd-Hurwitz's experience in the sector will be invaluable as we continue working to ensure more Australians have a safe and affordable place to call home," she said.
Interim board members appointed include housing economist Professor Rachel ViforJ, the head of a specialist homelessness service for women Helen Waters Silvia, urban economist and planner Dr Marcus Spiller and Urban Renewal Authority director David O'Loughlin.
Minister Collins also unveiled draft legislation for the council as well as the new Housing Australia Future Fund on Monday.
The $10 billion fund will be managed by Australia's sovereign wealth fund and works by funnelling any profits into social and affordable housing.
Independent ACT Senator David Pocock welcomed the new fund but said the government needed to go further.
"While an initial future fund investment of $10 billion delivering 30,000 homes over five years is a good start, even when added to the new supply contribution of states and territories it will only deliver a fraction of the existing unmet housing need," Senator Pocock said.
Considered on a per capita basis, the fund will only deliver 100 dwellings a year for his home state of ACT which needs more than 3000 to cover its housing shortfall.
He called for a stronger mechanism in the legislation to allow the fund to be topped up over time.
"We have to do better, invest more and plan strategically to solve Australia's social and affordable housing shortage," he said.
