Louise Pratt (WA, Australian Labor Party) Share this | Link to this | Hansard source

nator PRATT (—) (): My question is to the Minister representing the Minister for Housing and Homelessness, Senator Farrell. Can the minister explain how regional Australia is benefiting from the Albanese's government's housing agenda?

Don Farrell (SA, Australian Labor Party, Minister for Trade and Tourism) Share this | Link to this | Hansard source

I thank Senator Pratt for her question—a very important question, and it's pleasing to see some sensible policy questions being asked here today.

We know that far too many Australians are struggling to buy a home, and that Australians living in regional areas have faced some of the largest drops in housing affordability, making it increasingly hard for locals to save a sufficient deposit. After almost a decade of inaction, the Albanese government is finally showing national leadership to help get more regional Australians into their first home. The Albanese government acted to deliver on our commitment to establish the Regional First Home Buyer Guarantee by October, three months earlier than promised. Ten thousand places will be available each financial year through the Regional First Home Buyer Guarantee to support regional first homebuyers to purchase new or existing homes with a deposit of as little as five per cent.

To be eligible for the Regional First Home Buyer Guarantee, applicants must be Australian citizens, must purchase outside a capital city and must demonstrate that they have been living in the region in which they're purchasing the property for at least 12 months. The regional guarantee is part of the Albanese government's ambitious housing reform agenda to support people into home ownership and to improve the supply and the quality of social and affordable housing.

Sue Lines (President) Share this | Link to this | Hansard source

Senator Pratt, a first supplementary question.

Louise Pratt (WA, Australian Labor Party) Share this | Link to this | Hansard source

Can the minister provide an update on the number of Australians who have accessed the Regional First Home Buyer Guarantee to date?

Don Farrell (SA, Australian Labor Party, Minister for Trade and Tourism) Share this | Link to this | Hansard source

I thank Senator Pratt for her genuine interest in this issue. The Albanese government has of course hit the ground running on housing, and is delivering immediate action with the Regional First Home Buyer Guarantee. Since being launched early on 1 October this year, over 1,000 regional Australians have been assisted into—

Louise Pratt (WA, Australian Labor Party) Share this | Link to this | Hansard source

Oh, 1,000?

Don Farrell (SA, Australian Labor Party, Minister for Trade and Tourism) Share this | Link to this | Hansard source

Yes, 1,000 have been assisted into home ownership by this guarantee. I recently saw the story of Abbey and Corhan and their baby, McKinnon, who live in Townsville. They had the opportunity to access this program, and now expect that by Christmas they will be moving into their new home. (Time expired)

Sue Lines (President) Share this | Link to this | Hansard source

Senator Pratt, a second supplementary question.

Louise Pratt (WA, Australian Labor Party) Share this | Link to this | Hansard source

Can the minister explain how this program supports the Albanese government's broader housing agenda?

Don Farrell (SA, Australian Labor Party, Minister for Trade and Tourism) Share this | Link to this | Hansard source

Thank you, Senator Pratt. As a matter of fact, I can explain that to you. It's a very sensible question. Alongside the Regional First Home Buyer Guarantee, the Albanese government will deliver the National Housing Accord and will deliver the $10 billion Housing Australia Future Fund.

We have unlocked $575 million in funding from the National Housing Infrastructure Facility. The National Housing Supply and Affordability Council will provide independent advice to the government, we will have a national housing and homeless plan and we will implement the help-to-buy scheme. All of our housing policies are targeted to ensure that more Australians have a safe place to call home, including the Regional First Home Buyer Guarantee. (Time expired)