My question is to the Minister representing the Minister for Housing, Senator Ayres. Minister, too many Australians have felt that the housing system is stacked against them. The Albanese Labor government recently announced reforms to level the playing field for first home buyers. How are these changes helping more Australians get the opportunity to buy their first home?

Thank you to Senator Walker for that question. It's good to have a young South Australian joining the Labor team here and actually fighting for young Australians to be able to get a home.

For far too long, too many Australians have felt that the housing system is stacked against them, and they would be right. Since 1999, house prices in Australia have risen by 400 per cent. That beggars belief! Young Australians have been doing everything right—working hard and saving everything that they can for a house deposit. But, when the average time it takes to save for a deposit has blown out to 10 years—to more than a decade—and the median home price has climbed to more than eight times the average income, it is time to level the playing field, and that's exactly what this Albanese Labor government is doing.

We're setting an ambitious national target of 1.2 million homes, limiting negative gearing for residential property so it can only be used for new builds and replacing the 50 per cent CGT discount to restore the taxation of real gains. And we've delivered on our commitments to expand the five per cent home deposit scheme, opposed by everyone over there—One Nation and the Nationals and the Liberals—delivering real change for young Australians who want to get their foot on the ladder, provide security for their families and have some aspiration for homeownership for the future. We are the only government that has been prepared to take those steps in the national interest and in the interests of young Australians.

Senator Walker, first supplementary?

The Albanese Labor government's housing agenda is the most ambitious in generations. What are economists and stakeholders saying about the government's recent reforms to level the playing field for first home buyers?

There is widespread support for the government's reforms. ACOSS, National Shelter, Everybody's Home and Better Renting all said the government's reforms will 'help reverse the stark decline in homeownership over the past 10 years'. NAB's chief economist said it would be owner-occupiers who are the winners from Labor reforms.

Minister Ayres, please resume your seat. Order! Mr Ayres, please continue.

If you step outside real participants and experts, you do find some other views, Senator Bragg, don't you? Senator Bragg said that Australians who support the government's approach here—

Minister Ayres, please reflect your answer to me.

He said, President, that those Australians who support the government's approach don't have a brain. That's what he said on radio—that Australians who support this government don't have a brain. Denigrating Australians is not the way to develop policy. (Time expired)

Senator Walker, second supplementary.

Young Australians in particular feel that housing has been stacked against them. The Albanese government has been paving the way with a plan to help more young Australians own their own home. How does the government's policy compare with other policy positions?

President, Senator Bragg wanted to describe Australians who disagree with their negative approach to policy as having no brains. There are no solutions, no plans from the coalition—none that they haven't read out to One Nation already. They're just pouring scorn on ordinary Australians who dare to disagree with people skills over here. One Nation, Nationals and the Liberals competing for—Senator Bragg over there playing the role of Scarecrow, no brains, apparently! The Nationals, One Nation and the Liberals competing for the role of the Tin Man, having no heart at all for ordinary Australians. But the role of the Cowardly Lion has already been taken, President. Mr Taylor unambiguously is a walk-up start as the Cowardly Lion—no courage at all. (Time expired)