Lisa Chesters (Bendigo, Australian Labor Party) Share this | Link to this | Hansard source

On the weekend, the Prime Minister announced $2 billion for a social housing accelerator plan, and I have to say I was at first excited and then relieved. I was relieved to know that our government was doing its bit to help with supply, and helping the state government of Victoria get on with what they call the Big Build, and I'll tell you why. In speaking to local real estate agents—I do talk to them, even though most of them are of the blue colour, as opposed to the red colour—they all tell me the challenge is supply. One agent with a significant rental stock said that, since the beginning of the pandemic, they've lost about 25 per cent of that rental stock. They've lost it to first home buyers—we welcome that—and to people who are moving out of Melbourne and choosing to live in Bendigo—we welcome that too; welcome to our community! But it doesn't change the fact that they've lost 25 per cent of their rental stock. Supply is the problem. Real estate agents have also told me that $400 is about a price point. Anything under $400 a week to rent gets snapped up really quickly; anything over that is sitting on the books.

We know supply will help put down downward pressure. It will make sure rents stay affordable. We know that supply is critical to solving our housing crisis. That is one of the reasons I really welcome the initiative that was announced on the weekend. This government and our side are really committed to solving the supply challenge we have in this country. I call on all those who want to see an end to the housing crisis to get on board and support these measures.