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Housing
I believe housing is a basic human right. Every Australian should have access to a safe and stable place to call home. However, the rising cost of housing has created a significant challenge for many people in our community, making it increasingly difficult to enter the property market or secure a stable rental. I know the housing crisis requires urgent action.
National Housing Accord
- The Federal Government has invested $3.5 billion as part of a new national agreement to build 1.2 million new well-located homes over the next 5 years
- We have also committed $350 million over the next 5 years to support the delivery of 20,000 affordable homes together with the States and Territories
Housing Australia Future Fund
- We legislated the $10 billion Housing Australia Future Fund to provide a secure, ongoing pipeline of funding for social and affordable housing
- The fund will disburse $500 million per year towards the construction of 20,000 new social homes and 10,000 new affordable homes over 5 years
Home Guarantee Scheme
- We’re helping 35,000 first home buyers and 10,000 regional home buyers break into the housing market with as little as a 5% deposit
- We’re supporting 5,000 eligible single parents and guardians to buy a home with as little as a 2% deposit
Help to Buy
- We have passed legislation to establish a shared equity scheme which will support 40,000 Australians to buy a home
- Under the scheme, the Commonwealth would help pay up to 40% of the purchase price, helping buyers break into the market with as little as a 2% deposit
Build to Rent
- Our Build to Rent Scheme has passed the Parliament, and will incentivise the construction of thousands of new rental homes
- This includes a 1.5% increase in the Capital Works tax deduction, and a 15% reduction in final withholding tax
This is the floor, not the ceiling. I will continue to be a strong advocate for a more equitable housing landscape.
I’ve written a policy piece on housing with The McKell Institute, The Crumbling Australian Dream, which goes into more depth if you want to read further.
To read "The Crumbling Australian Dream: An Examination of Australia’s Housing Sector" click here.
