The Albanese Labor Government is building more Homes for Australians. We have a target of building 1.2 million homes through our $33 billion Homes for Australia Plan.
✅Achieved
In its first term, the Albanese Labor Government:
- Started the biggest housing build in Australia’s history.
Labor is investing $33 billion in housing – 6 times more than the Liberals budgeted over a whole decade. - Is delivering more social and affordable homes.
We're delivering 55,000 social and affordable homes – that's 5 times more than the Liberals did over a whole decade. - Is delivering help to buy a home.
150,000 first home buyers have been helped into their first home with a deposit of 5 per cent of less – and no mortgage insurance. An additional 40,000 workers have been helped into their own home through Help to Buy – with a deposit as low as 2 per cent. - Is delivering a better deal for renters.
Labor has helped nearly 1 million households with the cost of rent by increasing rent assistance, up by 45% since we were elected.
We’re make renting better through new national standards including by limiting rent increases and banning 'no grounds' evictions. - Is training more tradies.
Labor's Free TAFE and $10,000 incentive payments for apprentices in construction are helping us to build more Homes for Australians.
📢Announced
A re-elected Albanese Labor Government will:
- Expand the Help to Buy program to help first home buyers by lifting the property price and income caps to make the scheme more accessible.
- Provide $120 million from the National Productivity Fund to incentivise states to remove red tape and help more homes be built faster.
- Introduce a 2-year ban on foreign investors buying existing homes.
