Graham Perrett (Moreton, Australian Labor Party) Share this | Hansard source

Labor's Help to Buy scheme, to be established by the Help to Buy Bill 2023, is fulfilling my commitment to the people of Moreton to help make it easier for them to purchase their first home. The Albanese government will support eligible homebuyers with an equity contribution of 40 per cent for new homes and 30 per cent for existing homes. This scheme has received national agreement from the states, who will seek to progress legislation so that the scheme can be implemented nationally. One of the joys of having a federation is that we have different land registrations. Smart states like Queensland and South Australia have the Torrens system, but the other states are a little bit different.

Home ownership is so important to the short-, medium- and long-term economic security of Australians' future, and that is why we're committed to using the tools at our disposal to make it easier for Australians to buy a home. A total of 40,000 places will be available over four years. That's 10,000 places per year. This measure won't overheat the market. It is targeted and efficient relief and will be life-changing for Australians looking to buy a home.

The Help to Buy scheme is one of a raft of measures that we've implemented to make housing more accessible and affordable. Despite the warbling and whinging from those opposite, change does not happen overnight. After 10 years of neglect, we have a lot of catching up to do when it comes to building affordable housing. As all the sensible people who deal with the housing industry know, supply, supply, supply is the solution.

This scheme will give those on low and middle incomes an opportunity to buy a home with at least a two per cent deposit. The ability for homeowners to put down a two per cent deposit will mean that it'll be far easier to save for a deposit and it will help those who are looking to buy a home get into one sooner, especially while paying rent. If you talk to any young people that have moved out of home, it's almost impossible for them to get ahead and get a deposit together to go into a home. One of the biggest barriers to homeownership is saving up for that deposit, so making the deposit as low as possible is a crucial step in making housing more accessible.

Homeownership represents more than just four walls and a roof. It represents stability, it represents achievement, it represents community and it also represents wealth that you can pass on to the next generation. The neglect the coalition showed our housing sector shows the contempt that they have everyday Australians. Help to Buy will make a significant and tangible improvement to housing security and affordability for those most marginalised in the housing market. Anyone who does not support this is not serious about making tangible improvements to people's lives.

The Grattan Institute released an article in 2022 expressing the need for a shared-equity scheme. It said:

A national shared equity scheme would help level the playing field for first home buyers …

This program gives a 40 per cent stake to those buying their first home. Not only is a shared-equity scheme a solid way of lessening the strain; it is also one of the practical measures that will help to ease this issue without any unintended consequences.

The Productivity Commission says:

The bottom line is that rent control is not an effective way to improve affordability for renters.

So, despite the Greens political party attempting to politicise another issue because it suits their agenda, the facts are very clear. If you want to help low- and middle-income Australians into homes, the key is to lower the barriers to entry for that group. Instead of the slogans, spin and ranting of the Greens political party or the negativity and naysaying of the coalition, Labor is offering a solid, fact-driven policy that will have a material impact on everyday Australians.

It's disappointing to hear the Greens political party is out there planning to vote against this in the House of Representatives. It's going to delay the housing dream for so many Australians. It's not millions of Australians. It's only 10,000. But that's 10,000 lives that can be changed and so can the households connected with them. By delaying this legislation, the Greens are saying no to Australians in suburbs and towns across the country, they're saying no to young Australians looking to buy their first homes and they are saying no to the stability of Australia's housing future. I remind the Greens political party that way back in 2019, when Labor candidates like me were out there prosecuting the case for a range of reforms on tax, including negative gearing, the Greens were nowhere to be seen when it came to campaigning on negative gearing. They were busy with Bob Brown's convoy, scaring the hell out of regional Queenslanders and doing all they could to make sure a reforming Labor government wasn't elected. I think as a political party they are experts when it comes to product differentiation, but they're never there when it comes to the hard, realistic reform. Vultures for votes and division, harvesting hatred and saying, 'Divide, divide, divide'—that's their only point.

Participants in Labor's Help to Buy scheme will not be dictated to by the government. Instead, we'll just act as a second mortgage holder. Owner will still be able to renovate without needing special permission from a bureaucrat or Housing Australia. Also, anyone looking to increase their stake in the property is able to buy out the government in five per cent increments if they so choose. These options show that we are dedicated to ensuring that the dream of homeownership can be fulfilled and that the government will not stand in the way of people making their own choices about their own properties. Participants will also be able to seek an adjustment to the proportion of ownership if renovations are made and they reflect an additional capital value added to the property. This means that the government will not be benefiting from your renovations. You can have the freedom to improve your own home as you choose, as circumstances permit.

Homeownership is still an essential part of the great Australian dream, though I do wonder. My older son is 18. When I talk to his generation about the chances of getting into a house without a mum-and-dad bank, it seems an impossible dream, apart from collectivising and all sorts of things. That's why this Albanese government is committed to keeping homeownership in reach for that generation and for as many Australians as possible. The Help to Buy scheme ensures that people on low and middle incomes have a leg-up when it comes to buying their first home. We're providing targeted and efficient support to those looking for their first home. We're encouraging people to build homes, doing our bit for supply, by offering a higher equity share for those who are willing to build. We're making saving easier by requiring only a two per cent deposit. These measures prove our dedication to helping more Australians get a roof over their head.

We're not here to spend our time shouting slogans, like the Greens political party does, nor are we shouting no to every measure that will provide relief to Australians, especially when it comes to housing, like the coalition does. As the sensible government, we're here to implement strong, targeted reform aimed squarely at helping everyday Australians. Here's the thing: the Help to Buy scheme is only one pillar of our broader housing strategy, combined with our $10 billion Housing Australia Future Fund, the $3 billion social housing accelerator payment and the largest increase to Commonwealth rental assistance in 30 years. It is critical that we get housing on track, and that's why we have multiple schemes aimed at various areas of this sector.

If this bill is delayed in the Senate because the Greens political party wants to pay politics, that will only make the situation worse. Delays mean fewer people building their first home. Delays mean more pressure on the rental market and, consequently, rents increasing above market. Delays mean a worse outcome for the Australian people. The Labor government will not delay. We will act in the best interests of the Australian people because we are committed to a better future for all Australians, and giving them four walls and a roof is a big part of that. I commend this bill to the House.

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