Efforts to end long‐term homelessness have embraced a Housing First approach. Housing First emphasises rapid placement of clients into independent, permanent accommodation and eschews traditionally favoured requirements that clients demonstrate sobriety or success in treatment programs prior to being offered housing. Although housing retention rates are superior to those obtained from traditional programs, some claims made on behalf of the Housing First approach remain controversial. The present article reviews results from Housing First research to date, as well as challenges and concerns that remain in regard to clinical outcomes, fidelity of implementation and application in the Australian context.