Jason Clare (Blaxland, Australian Labor Party) Share this | Link to this | Hansard source

My question is to the Minister for Housing and the Minister for the Status of Women. Minister, can you please update the House on the impact of the first home owner boost?

Tanya Plibersek (Sydney, Australian Labor Party, Minister for Housing) Share this | Link to this | Hansard source

I want to thank the member for Blaxland for his question. He held a housing affordability forum in his electorate at the beginning of last year and the main issue that was discussed that night was the extraordinary number of repossessions that were occurring in his electorate. People sought advice on how to avoid—

Barry Haase (Kalgoorlie, Liberal Party, Shadow Parliamentary Secretary for Roads and Transport) Share this | Link to this | Hansard source

That is what you get from a Labor government.

Tanya Plibersek (Sydney, Australian Labor Party, Minister for Housing) Share this | Link to this | Hansard source

that serious issue. That was a terrific interjection from the other side! These repossessions actually started under your government.

Barry Haase (Kalgoorlie, Liberal Party, Shadow Parliamentary Secretary for Roads and Transport) Share this | Link to this | Hansard source

Mr Haase interjecting

Harry Jenkins (Speaker) Share this | Link to this | Hansard source

Order! The member for Kalgoorlie.

Tanya Plibersek (Sydney, Australian Labor Party, Minister for Housing) Share this | Link to this | Hansard source

The news today is that repossessions under Labor are down.

Barry Haase (Kalgoorlie, Liberal Party, Shadow Parliamentary Secretary for Roads and Transport) Share this | Link to this | Hansard source

Mr Haase interjecting

Harry Jenkins (Speaker) Share this | Link to this | Hansard source

Order! The member for Kalgoorlie is warned!

Tanya Plibersek (Sydney, Australian Labor Party, Minister for Housing) Share this | Link to this | Hansard source

Repossessions in Blaxland have gone from 60 in August last year to 20 last month, and house sales are up. Half of those purchases are going to first home buyers. Why is that? It is because of the Economic Security Strategy—the measures that we introduced—and because of the early and decisive action taken last year by the Rudd government to respond to the global financial crisis.

What we have seen around the world in comparable countries, like the UK and the US, is very serious conditions in their housing markets. We have seen people losing their homes, we have seen builders going bust at a very high rate and, of course, increasing numbers of people experiencing homelessness. In contrast, here, as the Prime Minister pointed out, over 30,000 first home buyers have taken advantage of the first home owner boost in the first 3½ months of its operation. We have seen reports of this from right around the country. Today’s Advertiser reports record numbers of first home owners grants being funded in South Australia, especially in new developments in northern suburbs like Paralowie and Salisbury. In Victoria, the Herald-Sun reports:

Home ownership for many is at present a realistic achievement.

The Sunday Mail in Brisbane reported on the weekend that many regional centres and northern cities recorded surprisingly strong growth as people took advantage of the first home buyer grant, falling interest rates and stamp duty exemptions.

Of course, it is not just the tradies and apprentices who are benefiting from this increased activity and confidence from first home buyers. As the Prime Minister said, in the banking sector we are also hearing of people being put on by the banks, including the Commonwealth Bank, because of the increased demands for processing new loans. The opposition spokesman, who voted against extra spending for social and Defence housing in the National Building and Jobs Plan, keeps asking what the government is doing for the private housing market, in contrast to public and Defence housing. That reminds me a little of the Monty Python sketch What have the Romans ever done for us. The first home owner boost is directly stimulating activity in the construction sector and related fields and it is supporting jobs in small businesses right across the country. We have lending data that shows that and we have the data from the home owner boost figures. We have evidence from builders and developers right across the country that shows that.

Before the first home owner boost, we already saw work start and the first families move into our National Rental Affordability Scheme rental properties. We saw projects announced right across Australia through the Housing Affordability Fund to directly bring down the cost of 14,000 homes and indirectly support lower costs for around another 300,000 homes. We are helping young people who are not yet in a position to buy to set up first home saver accounts. And, of course, that $6.6 billion of spending on social and Defence housing that the opposition voted against will employ tradies and apprentices right across Australia. I met some of them in Glebe yesterday and I can tell you that they are very grateful for the work.