House debates

Monday, 18 March 2024

Statements by Members


5:44 pm

Photo of Andrew WallaceAndrew Wallace (Fisher, Liberal National Party) Share this | Hansard source

My 19-year-old intern Zac wrote an honest reflection on the great Australian dream. Like so many young Australians, he's worried that his generation will not be able to own their own home. Here's what Zac says:

However, after almost two years of lacklustre action regarding housing supply from this government it seems that it is no longer a dream but instead a farfetched fantasy.

Our next generation of doctors, teachers, builders, and engineers face a housing market that seems insurmountable.

In the 12 months to February, the average price of a home rose by close to nine per cent.

This is greater than wage growth and has pushed home loans to record amounts.

At the same time, cash rates have skyrocketed following the election of this government, adding thousands of dollars to interest repayments—

The average Australian mortgage holder is now paying $24,000 a year more in interest payments than they were when we were in government. That's $24,000 after tax—

Affordable housing is not just a necessity for achieving the Australian dream but is also fundamental to wellbeing.

Despite all their talk of change and improvements, Labor continues to lead young people astray.


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