Last week the Prime Minister used the Labor Party national conference to raise expectations that the Government had a plan for housing.
Unfortunately, those struggling to get into a home of their own will be left deeply disappointed with the Prime Minister failing to deliver any real solutions to Labor’s housing crisis.
Federal Member for Groom, Garth Hamilton said it was not surprising that the Albanese Government had again failed Australians struggling to buy their first home, pay their rent or meet skyrocketing mortgage repayments.
“When the Prime Minister announced the so-called national housing plan, he failed to identify how it would deliver new housing supply, ease rents or address rising mortgage rates.
“All we got the PM was an ‘aspiration’ to see new homes built, and we all know what Labor’s aspiration on housing looks like – failure. This is the second announcement of aspiration from a government that has given up just 15 months into office,” Mr Hamilton said.
With no guaranteed investment in new housing stock, no concrete plan on increasing housing supply and nothing for first home buyers struggling to get into the market, it’s clear that the Albanese Government has given up.
“The best this government has to offer is a reannouncement of election commitments they are yet to deliver on, Australians are rightfully disappointed,” Mr Hamilton said.
- Last October the Albanese Government announced an ‘aspiration’ to build one million homes over five years
- Now the Government has farcically plucked another arbitrary figure of 1.2 million homes over five years out of thin air, knowing these homes too will not be built.
- New data from the Housing Industry Association (HIA) shows detached home building activity is set to slow to its lowest levels since 2012, dropping from a peak of 149,300 detached starts under the former Coalition government in 2021 to just 95,370 new starts expected in 2024.
- Since this time last year, new home starts are down by 6.6 per cent, new home approvals are down by 15.5 per cent, new home sales are down by 37.4 per cent, first home buyers are at their lowest levels since the Gillard Government, the number of loans to first home buyers are down by 15.3 per cent, and national rents have increased by 10.3 per cent.