Luke Gosling (Solomon, Australian Labor Party) Share this | Hansard source

Our government understands that too many Australians, after 10 years of absolutely disgraceful government, are facing serious housing challenges. We need to build more homes more quickly and in more parts of the country. That's why our government has an ambitious goal of building 1.2 million homes by the end of this decade—a decade that will be marked by the construction of homes, unlike the last decade of those opposite in power.

The latest budget, 2024-25, included $6.2 billion in new investment to build more homes to support Australians, bringing our government's new housing initiatives to $32 billion—that's with a 'b'. The budget commits $1 billion to get homes built immediately, and funding for states and territories also to build the roads, sewerage, energy, water and community infrastructure we need for new homes and for additional social housing—infrastructure that was let slide for so long under those opposite. Our policies were informed, carefully considered and guided by experts.

We know that the market response to deliver new housing supply has been impacted by COVID factors; however, that variety of factors mean that the economics of new construction are a bit out of kilter and we do acknowledge that, which is why we need to lean in. The Reserve Bank estimates that overall construction prices have risen almost 40 per cent since late 2019. In simple terms, supply has not kept up with demand, resulting in higher rents and house price rises. While the Albanese government is not promising an immediate fix to the solution because that would be dishonest, we are activating our plan called Homes for Australia to build those 1.2 million new homes over the next five years. We are also helping Australians to build, rent and buy.

The Homes for Australia plan focuses on four key actions: training more tradies, finding more partnerships to grow the workforce, kick-starting construction by cutting red tape and getting those approvals moving, and providing incentives to state and territory governments to get homes built quickly, to meet and beat 1.2 million home target. In addition, there are funds for veteran and domestic violence housing, and we have seen that in my electorate of Solomon, as well as the recently announced $4 billion—with an 'b'—partnership between the federal and territory governments for remote housing. I think all honourable members understand how much of a priority that is.

Other elements include the requirement for universities to increase student accommodation stock to take pressure off the local rental market. I congratulate Charles Darwin University on today's announcement of a new student accommodation building expected to house around 350 students in the CBD of Darwin. Big increases to Commonwealth rent assistance will help more than 5,000 Territory households with the cost of living.

On housing and immigration in Darwin and Palmerston in the electorate I am so proud to serve, we know that whether it is skilled migration or international students, many sectors of our economy depend on new Territorians. All businesses in the Territory know how tight the labour market is. My office deals daily with businesses who need workers with those essential skills to build a local economy, to provide care for Territorians and to help us fulfil the Territory's potential while we get our young people trained up and working.

This place based approach to international students and migrant workers is essential for the development of the north, and I know that our government understands that. An important component of Homes for Australia is the Help to Buy scheme, which will be life changing for many Australians, indeed, many Territorians, and those living in my electorate. A lot of people renting now could afford a mortgage but aren't able to save up to 20 per cent deposit. The Help to Buy scheme helps those people get over that hurdle of a deposit, bringing home ownership back into reach for thousands of Australians and Territorians, particularly those that are renting. Help to Buy is targeted at helping low- and middle-income Australians get into a home with just a two per cent deposit. The government will support eligible homebuyers with an equity contribution, which is up to 40 per cent for new homes and 30 per cent for existing homes. It can also help eligible new homeowners save hundreds every month on their mortgage repayments.

I will continue to work with the member for Lingiari, the minister for housing, the NT government and industry to build more Territory homes.

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