Anthony Albanese (Grayndler, Australian Labor Party, Prime Minister) Share this | Hansard source

I thank the member for Petrie for her question and congratulate her on her election and her first speech. She welcomed me to North Lakes, where we had good discussions with locals around the shopping centre there over a period of time. They certainly were very keen on our housing policy, because that is a growing area of Queensland. It's a beautiful area of Queensland. It's now serviced by a train line, first promised in 1895 but delivered as a result of our former government's response.

Today in parliament, Minister O'Neil formally fast-tracked our five per cent deposit plan for first home buyers to start from 1 October this year. We're bringing it forward so that every Australian who wants to buy a home of their own, whether they live in the city or the bush, can have the opportunity to do so. That includes Wagga Wagga, where I gave a lift to the member for Riverina this morning for the bush summit. Now the average first home buyer in Wagga can save a five per cent deposit in a couple of years, not the usual nine years it would take to save 20 per cent. The same first home buyer will save $27,000 in mortgage insurance, which will make an enormous difference. Think of the difference it will make to young people in the regions as well as in our suburbs.

Now, unfortunately, the news hasn't been welcomed by everyone. The coalition's housing spokesperson has had a lot to say about five per cent deposits. He continues to say that it's about helping billionaires. The idea that billionaires are worried about whether it's a five per cent or a 20 per cent deposit for a $700,000 property is just bizarre. Sometimes they get all contorted just trying to find ways to say no. That's what's going on here. But it's worse than that, of course, because now they're coming after renters.

Senator Bragg has said that the build-to-rent scheme is 'a massive conspiracy between Mr Chalmers, the unions and the big super funds to become perpetual landlords'. Drum the spooky music background here. But he was beaten by Senator Roberts in the debate over there, who thinks that build to rent is part of the World Economic Forum's agenda—conspiracy theory. I kid you not. These are the bedfellows of those opposite in trying to just oppose everything. It's like they're allergic to helping Australians into housing. They're allergic to trying to help renters. They haven't learnt. They haven't changed. Their negativity is just getting stranger. (Time expired)

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