After a decade of Coalition neglect, Labor’s brought the Commonwealth back into housing with an ambitious housing agenda to make it easier to buy your own home and better when you rent. 

 

Support to buy your first home.

Labor has already helped 1,500 local households buy their first home.

And now, a re-elected Labor Government will give all first home buyers access to 5 per cent deposits and invest $10 billion to build up to 100,000 homes for sale only to first home buyers.

We want more Australians to buy a home of their own sooner – with lower deposits.

Labor will enable every Australian to buy their first home with a 5 per cent deposit. There will be higher property price limits and no caps on places or income, in a major expansion of the existing scheme.

The Albanese Government will guarantee a portion of a first home buyer’s home loan, so they can buy a home with a 5 per cent deposit and not pay Lenders Mortgage Insurance.

More homes for first home buyers

We know the long-term fix to housing is to build more homes. That’s why the Albanese Government will also invest $10 billion to partner with state developers and industry, to build up to 100,000 homes – with these homes reserved for sale only to first home buyers.

Helping people with student debt buy a home

Labor’s helping to make it easier for first home buyers to get into a home of their own by ensuring that people with student debt aren’t unfairly treated when they’re trying to take out a mortgage.

Financial regulators will update their guidance to make it easier for Australians with a HELP debt to responsibly take out a mortgage and buy a home, and unlock the construction of more units, following a request from the Albanese Government.

These are commonsense changes that will help more Australians into a home.

People with a HELP debt should be treated fairly when they want to buy a house and we’re working with the regulators to make sure they are.

More support for renters

Labor has helped over 11,000 local households with the cost of rent by increasing rent assistance, up by 45% since we were elected.

We’re make renting better through new national standards including by limiting rent increases and banning 'no grounds' evictions.

Cracking down on foreign investors

The Albanese Government will ban foreign investors from buying established homes for at least two years and crack down on foreign land banking.

We're coming at this housing challenge from every responsible angle.

This is all about easing pressure on our housing market at the same time as we build more homes.

These initiatives are another small but important part of our already big and broad housing agenda, which is focused on boosting supply and helping more people into homes.