Housing Australia Future Fund expected to pass Parliament with Greens support

The Senate is expected to pass the Albanese government's Housing Australia Future Fund by early Wednesday afternoon, a day after the Greens budged to support the legislation following months of deadlock.

The party on Tuesday supported a motion to bring forward the second reading debate on the three bills underpinning Labor's housing package.

This reversed a motion to delay a vote on the bills until October, supported by the Greens and the Coalition in June.

It is expected the bills will pass before question time in the Senate on Wednesday.

The legislation includes Labor's $10 billion Housing Australia Future Fund, which would invest $10 billion, and spend at least $500 million a year. The government says it will be able to build 30,000 new social and affordable properties in the first five years.

Greens leader Adam Bandt and housing spokesperson Max Chandler-Mather on Monday announced the party had agreed to support the fund, and set aside key demands for rental caps and freezes.

Mr Bandt said the party had successfully negotiated a further $3 billion in direct investment into social housing this year, referring to a commitment of $1 billion made by Labor on Tuesday, on top of a $2 billion funding announcement made in June.

The Greens leader claimed the outcome of negotiations as a win, demonstrating that "pressure works" and establishing the "party in Parliament for renters".

Mr Chandler-Mather vowed the party would continue to fight for the federal government to incentivise rental caps and freeze across the country.

The party is expected to raise the issue where other housing legislation is introduced to Parliament, with the government's shared equity to be the next key piece.