MORE OF OUR PLAN

1. Low Inflation

2. Cheaper Energy

3.  Affordable Housing 

4. Safer Communities

Under Labor, the aspiration of home ownership has become out of reach.

Interest rates and rents have had their highest increases in over a decade.

Building approvals have fallen to their lowest level in over a decade.

At the same time, Labor has brought one million more people to Australian in just two years. Just 350,000 homes were constructed in that time.

Further, red tape and union corruption have added to costs and delays.

Labor has also revealed it is looking to introduce new housing taxes (including changes to negative gearing), which would reduce investment and push up rents.

The Coalition is determined to restore the dream of home ownership.

We will boost housing supply, rebalance migration, incentivise first home buyers and take pressure off interest rates and rents.

We will unlock up to 500,000 new homes by investing $5 billion to fund essential infrastructure like water, power, and sewerage at housing development sites.

And to further address supply constraints, the Coalition will freeze any further changes to the National Construction Code for 10 years.

At a time of high inflation, Labor has increased the compliance burden for new housing projects, adding up to $60,000 to the price of a new home.

Our freeze on red tape will provide certainty and let builders get on with the job of building more homes for Australians.

Amidst a housing crisis, Labor is bringing in a record 1.7 million people into our country over five years.

While we celebrate the contribution of migrants, our program needs to be well managed.

To alleviate pressure on the housing market, we will:

• Implement a two-year ban on foreign investors and temporary residents purchasing existing homes.
• Reduce permanent migration – from 185,000 to 140,000 for two years (then 150,000 in year three and 160,000 in year four).
• Return the refugee and humanitarian program planning level to the long-term average – from 20,000 to 13,750.
• Reduce the numbers of foreign students at metropolitan universities, increase the student visa fee and apply it to foreign students who change providers.

By rebalancing the migration program, the Coalition would free up almost 40,000 additional homes in the first year.

And well over 100,000 homes in the next five years.

A Coalition Government will allow Australians to access up to $50,000 from their super to buy their first home. The money initially withdrawn from super will need to be returned when the house is sold to support retirement.

Under Labor, interest rates remain high because of homegrown inflation which has been consistently higher than other major economies.

We will take pressure off interest rates by responsibly managing the economy, including reducing wasteful spending.