Ellie Whiteaker (WA, Australian Labor Party) Share this | Link to this | Hansard source

Homeownership shouldn't be a far-fetched dream, out of sight and out of reach. It never used to be. For generations of Australians, owning your own home was part of building a secure future, raising a family and putting down roots in your community. But, for too many today, that dream has slipped further and further away. It doesn't matter how much they've saved, how many avocado toasts they've cut out of their budget or how hard they've worked. The reality is that, for young Australians especially, buying a home has felt impossible. And, while Australians were struggling, what did the coalition do while they were in government? Nothing. For nearly a decade, the coalition sat on their hands, ignored concerns, cut programs and made it harder for ordinary Australians to get ahead. They left renters behind and they left first home buyers behind.

We know that not everyone has the bank of mum and dad. That's why the Albanese Labor government is stepping in and making it easier to buy your first home. From next month, first home buyers will be able to enter the market with just a five per cent deposit and without paying lenders mortgage insurance. That means thousands of dollars will be saved not only upfront on a loan but also over the life of the loan. And we're reserving places exclusively for first home buyers, giving them priority access and a fair chance to break into the market. Our government is dedicated to helping with the cost of living and to helping more Australians own their own home, because, unlike those opposite, we believe the great Australian dream can be realised.