Alison Byrnes (Cunningham, Australian Labor Party) Share this | Link to this | Hansard source

My question is to the Treasurer. How does the budget help address Australia's affordable housing shortage?

Jim Chalmers (Rankin, Australian Labor Party, Treasurer) Share this | Link to this | Hansard source

Thanks to the member for Cunningham for her interest in affordable housing. We are proud, on this side of the House, that the budget was able to include important policies on housing, like the Housing Australia Future Fund, like the Help To Buy scheme, which we've been talking about already in question time, and the Regional First Home Buyer Guarantee as well. But the new part in the budget, on Tuesday night a couple of weeks ago, was the new Housing Accord. What the Housing Accord does is it recognises that there is a shortage of affordable rental properties in this country and that we give ourselves the best chance to deal with this challenge if we bring people together to try and solve it. What the Housing Accord—

Milton Dick (Speaker) Share this | Link to this | Hansard source

The member for Bowman will leave the chamber under 94(a).

The member for Bowman then left the chamber.

Jim Chalmers (Rankin, Australian Labor Party, Treasurer) Share this | Link to this | Hansard source

does is it brings the Commonwealth together with the state and territory governments, with the industry bodies, with the super funds, with local government and with other institutional investors. And it recognises that, when you've got low vacancy rates and high rents, there is a responsibility on government to do something about it, and that's where the target comes from, from those discussions, and that's where the policy comes from.

It's been very well received in the housing sector. I pay tribute to the work of the housing minister and other colleagues who've worked so hard to make this Housing Accord a reality. The Housing Industry Association said:

Labor's first budget shows leadership to tackle Australia's housing supply and affordability challenges for all Australians.

The Master Builders Association said:

We thank the federal government for taking the first step in bringing all parties together to start tackling this crisis …

The Community Housing Industry Association said:

… as a breakthrough moment for Australia's housing affordability crisis.

…   …   …

This initiative is a huge stride forward

The Property Council said:

We commend the Government for making housing supply and affordability a centrepiece of this budget and for striking an agreement with the states and territories.

So I thank you industry bodies for their overwhelmingly positive reaction to our Housing Accord and to the housing policies in our budget. In particular, I thank all of the parties to the accord, as it's drafted. We've got all of the states and territories signed up from both sides of the political fence. We've got AustralianSuper, Australian Retirement Trust, HESTA, Aware Super, Cbus Super, Industry Super Australia, UniSuper, Rest Super, Colonial First State, Insignia, TelstraSuper, BlackRock, AFM Investments, the Master Builders Association, the Housing Industry Association and the Property Council of Australia as well.

Milton Dick (Speaker) Share this | Link to this | Hansard source

The member for Groom is warned.

Jim Chalmers (Rankin, Australian Labor Party, Treasurer) Share this | Link to this | Hansard source

People are coming from everywhere to be part of this Housing Accord, because it gives us the best opportunity to deal with an issue in the housing market where it's too difficult for people to live near where the jobs and opportunities are being created. The difference between this side of the House and that side of the House is that we care enough about it to bring people together and do something about it.