Homes For Every Australian

OPINION PIECE

We need homes for every Australian. We need a housing policy that creates environments where everyone can find their own way into the housing market, and stay there. We need an actual housing policy that is more than writing a few cheques or throwing around big numbers with dollar signs. Getting a housing policy right means getting supply right, and for that supply to be in balance with demand. We need housing policy with follow through that helps, not hinders developers and builders to deliver, so that the aspiration of home ownership is achieved by more and more Aussies.

Last week, Labor rolled out in parliament the government’s Home Guarantee Scheme for first home buyers. First home buyers will now be able to purchase a property with a 5% deposit and not have to pay the Lenders Mortgage Insurance Fee. Instead the government will guarantee the loan. On the surface, it sounds great for the first home buyers. For now, anyway. But what a mess this will end up being. A mess for our economy, for current mortgage holders, for the government books, and eventually for the first home buyers who purchase under this scheme.

At the rate this government is going, pretty soon that 5% deposit will be the same as a 20% of today. Lower deposit rates and greater buying power for first home buyers will not fix the problem. We need to fix the supply and demand imbalance first. We need to be building more and building quickly and efficiently. Time is critical.

When the Coalition was last in office, while contending with much lower immigration, around 200,000 houses were being built per year, almost entirely through private investment builders. While under Labor, that number has fallen to around 170,000 per year and is still falling. Not even coming close to keeping pace with population growth. Too many people arriving and not enough homes being built is a recipe for disaster.

Labor’s Housing Australia Future Fund is one of the biggest failures in our country’s history. $10 billion of taxpayer money. And for how many houses? Senior Labor Senators have said they have “acquired” 2,000 homes. Acquired! The government buying houses does not help supply, it just fuels more demand.

Homelessness is on the rise. It is the worst in living memory. At the last election, I campaigned for a $30,000 grant to assist Orange Sky to move into upgraded facilities in Mackay. I’ve written to the Prime Minister and raised the funding needs in Parliament this week. It’s a small ask in government terms, but it would mean so much to our community. I am now looking forward to the government’s response.

Under this Labor government the housing market’s supply and demand is way out of whack. We need to encourage construction of new homes. We need to cut the tape and we need for the government to get out of the way. We need to create an environment where people can once again aspire to home ownership. We need to make the buying environment fair, so everyone has a shot at getting their Aussie dream realised.

Get the supply and demand right. Get the houses built. Get a home for all Australians.

Opinion Piece from Federal Member for Dawson Andrew Willcox.

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