Opposition leader Peter Dutton says he intends to restore the Australian dream of home ownership, promising $5 billion to fast-track building projects if the Coalition wins the next election.
Dutton unveiled the Coalition's Housing Infrastructure Program on Saturday, designed to expedite the construction of up to half a million homes through a mixture of grants and concessional loans.
If elected, the coalition would temporarily fund water, power and sewerage to move the projects along as part of the commitment.
"We're here today to say that we're introducing 500,000 additional blocks of land into the market, "Dutton told reporters in Perth, saying that it was a "game-changer for young Australians who can't see the opportunity yet to own a home".
The Opposition leader said the funding would come from addressing the "waste that the government's presiding over at the moment".
"We've supported the government in sensible savings measures and we'll provide all of our costings details as would normally be the case closer to the election," he said.
"If you listen to every credible commentator in the building space, they all talk about increasing supply, and that's exactly what this program is targeted at.
"The government has had two years to do this, and they haven't done it, and the problem is just compounded for younger Australians, where they've lost hope under this government of home ownership and I intend to restore that hope."
Noting it did not usually fall to the federal government to fund enabling infrastructure, he pledged to pay councils, utility companies or developers to fast-track development, adding that these bodies must
"Under the Albanese government, Australia is facing a housing crisis. The great Australian dream of home ownership has never felt further out of reach," he said.
"We need to get our country back on track and restore the Australian dream of home ownership."
Labor accuses Coalition of 'card trick'
Responding to Dutton's announcement, Prime Minister Anthony Albanese said the Opposition was "going to spend less money, not more".
"We’ve got a $32 billion Homes for Australia plan ... They're committed to five. They've committed to abolishing the Housing Australia Future Fund — that's 10 billion," he said at a press conference on Saturday.
"Peter Dutton is
, and been there now for over 200 days of Help to Buy legislation"
"They didn't support the Social Housing Accelerator, that's $2 billion. They haven't supported the additional investment that we have in infrastructure investment that's been in the budgets, they've criticised that," Albanese said.
Housing Minister Clare O'Neil said the promise did not make up for the Coalition's planned cuts to spending on social and affordable housing.
"Peter Dutton is taking with one hand and giving with the other. It's a card trick," she told reporters.
The Opposition also announced a freeze and a review of the National Construction Code, claiming changes to energy efficiency standards had added up to $60,000 to the price of a new home.
Pressure had been mounting on the Opposition to unveil more policies ahead of next year's federal election, with housing affordability and cost-of-living front of mind for voters.
Master Builder Australia chief executive Denita Wawn backed the coalition's policy, saying red tape needed to be cut.
"A pause on unnecessary code changes that increase cost and complexity without meaningful improvements in standards is a positive step," Wawn said.
"Labour shortages, access to water, sewerage, power and roads, union disruption, and red tape all significantly impact the final project cost and build time."
The Business Council of Australia and the Urban Development Institute of Australia also backed the policy.
"This is smart policy that goes right to the heart of addressing the housing crisis and ensuring there are poles, pipes, wires and roads so houses can actually be built," the institute's president, Col Dutton, said.
Labor has so far unveiled $32 billion in housing initiatives, which includes a $10 billion fund for social and affordable housing, but the plan to help lower-income Australians buy 40,000 homes has been stalled by the Senate.
Last month, Labor announced the first
.
Most of these will not be ready for occupants until about mid-2026.
It has also offered the states $3 billion in incentives to build 1.2 million homes by the end of the decade.
At the same time, Albanese has been forced to
for himself and his future wife, Jodie Haydon.
Speaking to reporters at a press conference on Wednesday, Albanese was asked whether the purchase was a "good look" during a cost-of-living crisis.
"I understand that I've been fortunate, but I also know what it's like to struggle," he said.
"My mum lived in the one public housing flat that she was born in for all of her 65 years.
"I know what it's like, which is why I want to help all Australians into a home, whether it be public homes or private rentals or home ownership."
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