Labor Prioritising New Homes To Fix Housing Crisis

Labor has dedicated $32 billion to addressing the housing crisis, promising to build new homes and offer assistance to renters and buyers. 

Speaking to The Briefing podcast, Minister for Housing Clare O’Neil said Labor intended to work with states to build 1.2 million new homes. 

“The first thing is we’ve got to build, build, build. We have to build more homes and that will relieve all those pressures people are feeling.” 

Alongside building new houses, Labor’s policies include supporting renters through Centrelink and helping first-home buyers through the Help to Buy scheme. 

The Help to Buy scheme would allow the government to act as “the bank of mum and dad,” providing funding assistance for 40,000 first-home buyers. The bill stalled in Parliament as Labor lacked the support needed from either the Coalition or the Greens to pass the proposal. 

Additionally, O’Neil said increased social housing had been “radically” underinvested and would be a “huge part” of Labor’s plan. 

Labor had previously introduced the Social Housing Accelerator, a $2 billion fund that helped states “turbocharge” social housing. Additionally, the Housing Australia Future Fund would provide $10 billion in funding for new social and affordable housing. 

When asked whether Labor will limit investment properties, O’Neil said there are no policies in place to do that, nor will Labor wind back negative gearing. Instead, Labor is fully focused on building more houses. 

“Whether it’s investors or first home owners owning property, really, we need more houses in the market.” 

O’Neil said improving housing was a long-term goal for Labor, and it would take “a little bit longer” than a single term in government. 

By Zack Goutzoulas, a Master of Journalism student at the University of Melbourne.

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