Fatima Payman (WA, Australia's Voice) Share this | Hansard source

I want to speak to a disconnect in this country that Australians are feeling in their bones. At a time when families are cutting back on groceries, delaying rent and choosing between fuel and food, we learned that the Governor of the Reserve Bank, Michele Bullock, has purchased a $2 million beachside property, settling on the very same day that interest rates were raised yet again. Now let that sink in.

In my home state of Western Australia, the median house price has now reached a million dollars. For many, the dream of homeownership isn't just slipping away; it's already gone. Young people are locked out. Families are stretched to breaking point. And what do they get in return? Higher interest rates; higher repayments; higher stress. We're told this is necessary—that Australians must tighten their belts; that unemployment may need to rise—but for whom? It certainly isn't the people at the top who are feeling the pressure. While households are doing everything they can to stay afloat, fuel prices are rising, supply shortages are driving up costs and the cost-of-living crisis deepens. Yet the burden continues to fall on everyday Australians. This isn't about one property purchase; it reflects the systemic wealth inequality and the disconnect between those making the decisions and those living with the consequences.

If the minister for property investors, Clare O'Neil, is serious about fixing the housing crisis, then she needs to shift her focus from protecting billionaires to helping first home buyers. She should look at closing investor tax loopholes like negative gearing and the capital gains tax discount—