Kara Cook (Bonner, Australian Labor Party) Share this | Hansard source

I am so proud that the Albanese Labor government has delivered five per cent first-home deposits for every first home buyer from 1 October this year. This change will cut years off the time it takes to save for a first home deposit. It will help Australians into their own home sooner, and, because the government will stand behind these loans, first home buyers will no longer be forced to pay tens of thousands of dollars in lenders mortgage insurance. That is real relief, and it is making a real difference to first home buyers in my electorate of Bonner and right across the country.

I have previously spoken in this place about doorknocking in Wishart during the election campaign. I met a young tradie who had just finished his apprenticeship. He told me, with some despair, that he could not see how he would ever be able to afford a home. He said he had a regular savings plan but he was still only halfway to what he needed for a deposit. I told him about Labor's plan for a five per cent deposit, but, at that time, it was still to come into effect. Today, I am proud to say to him and to so many others like him in my community of Bonner that support is now in place. It means that he and thousands of others like him will be able to buy their first home sooner. They'll be able to begin building equity, and they'll have the security and pride that comes from a home of their own.

Before the election, Labor promised to make it easier for Australians to buy their first home, with a deposit of just five per cent. We have delivered on that promise, and we have delivered ahead of schedule. Already, Labor's expanded home guarantee scheme has helped more than 185,000 Australians into home ownership, including 391 people in Bonner. That's 391 individuals and families who will now have a place to call their own, a place to build their lives, raise their children and put down roots in the communities that they love. This program is transformative. For single parents, Labor continues the Family Home Guarantee scheme, allowing them to purchase a home with as little as a two per cent deposit. This is life-changing support and giving single parents—so often mothers—the chance to build stability and security for their children.

We will help more Australians into homeownership, but we must also support those who are renting or facing housing insecurity. That is why Labor has delivered rent relief for those doing it tough. Since coming to government, we have delivered back-to-back increases to the maximum rates of Commonwealth rent assistance—an increase of almost 50 per cent. Today, 6,785 people in Bonner receive Commonwealth rent assistance. That is real help for local families, pensioners and students who are struggling with the cost of rent. We've also taken action for those facing the most serious housing challenges—women and children escaping domestic and family violence. Through the Albanese government's crisis accommodation programs, we are delivering 24 new homes in Wynnum Manly and Mount Gravatt in my electorate of Bonner. These homes are being built under the Safe Places Emergency Accommodation Program and the Crisis and Transitional Accommodation Program, giving families somewhere safe to stay when they need it most. Every Australian deserves a safe place to call home.

We are also building 100,000 homes exclusively for first home buyers to give them a fair chance in what can be a competitive market. Step by step, Labor is delivering. We know that Australia's housing challenge was decades in the making, and we will not solve it overnight. But we are acting with determination and with purpose. This government made a promise to make the dream of homeownership more achievable, and we are delivering on that promise. We are cutting the time it takes to save for a deposit. We are saving first home buyers thousands of dollars in their mortgage insurance payments. We are providing rent relief for those who need it most. We are building homes for women and children escaping violence. And we are also training the next generation of builders and tradies who will help our housing industry stay strong. Housing is not just about bricks and mortar; it's about security, and it is about dignity. It's about opportunity, and it's about giving every Australian the chance to build a future, to raise a family and to know that their hard work will be rewarded.

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