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

I was asked about NAB, and I said exactly what NAB said today. I'm sure the Australian might clarify the position tomorrow. They might! But that is very clear from NAB, and you can't be clearer.

There's a reason for that, of course. It's because the budget made no changes for people who already negatively gear property. And it's already making a difference. According to ABS data released on Friday last week, more investors are borrowing to build new homes than ever before. In the June quarter there was a 27 per cent increase in investor loans for new builds and a 20 per cent increase for construction loans—that is, more investors are borrowing for new builds and more new builds are being constructed by developers. That is happening, and that's precisely what the aim of the policy was. The aim of the policy was to assist with housing supply, because we know that housing supply is absolutely critical. The ultimate aspiration for any Australian is to own their own home, and backing that aspiration is what our reforms are about.

Throughout all of this debate, I haven't heard one person—perhaps the Leader of the Opposition might be the one—who thinks that the housing system is working exactly right. None! It is a broken housing system that we inherited and we're fixing it to give young people a fair crack. (Time expired).

See this speech in context