Clare O'Neil (Hotham, Australian Labor Party, Minister for Housing) Share this | Hansard source

The member for Deakin is a fantastic champion for aspiring homeowners in his electorate, and I want to thank him for this question. Too many Australians today feel that the housing system is stacked against them, especially younger Australians, and they're not imagining it. Right across our community, homeownership rates are declining. They're declining across all age brackets, but the effects are particularly pronounced when we look at what's going on for younger Australians.

As housing minister, I often get asked what things keep me up at night. Here's one of them: since the year I was born, a low-income young couple in this country are half as likely to own their own home than they were in 1980. We know those opposite are obsessed with division and conflict, and they're talking about these important changes as though this is some kind of fight between the generations. But they know and I know that, as people representing the Australian community, we are just as likely to get stopped in the street by grandparents who are worried about their grandchildren and parents who are worried about their kids. Our housing challenge is affecting the whole country. That's why our government has built the boldest and most ambitious agenda to tackle this that a Commonwealth government has had in 70 years.

We're building more homes. We know the main game is building, building, building because more housing means more affordable housing for Australians. But it's really important that we address the playing field and level that playing field for first home buyers. Our five per cent deposit program helps you get to the auction sooner. It's gone from 11 years to save a deposit down to two or three. That's already changed the lives of 240,000 Australians around the country. We help you get to the auction faster, and now we're giving you a fair shot when you get here. Our homeownership package will help an additional 75,000 Australians go from renting into homeownership.

I'm asked about risks, and we've already got one on the table. We've heard that the Liberal Party plan to oppose these reforms and unwind them at the next election. This is a political party one of whose foundation beliefs was a belief in homeownership. They have completely lost their way. They speak of aspiration—there is no greater aspiration in this country than young people wanting to get the keys to their first home. Why is it that Liberals have come in consistently over the last four years and voted against every initiative that we have put forward to help first home buyers? First home buyers have a hell of a challenge out there, but I want them to know that they have a Labor government and 93 Labor members behind me that are with them and fighting for them every single day.

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