5Housing
Mr Caldwell, pursuant to notice, moved—That this House:
(1)acknowledges that the Government has made Australia’s housing crisis worse than ever by:
(a)expanding the 5 per cent deposit scheme from a sensible and targeted approach, to an uncapped and non-means-tested free for all which has supercharged house prices by 3.6 per cent in just one quarter, and exposed first home buyers including young Australians to larger mortgages;
(b)creating the failing Housing Australia Future Fund which has $11.4 billion within it but has built only 895 houses in 2.5 years of operation; and
(c)proposing to fiddle with the capital gains tax and negative gearing, which is dressed up as an equity measure but will not actually result in the construction of new dwellings;
(2)notes that the Government is overseeing a historic collapse of housing construction, with dwelling completions now running at around 170,000 each year, whereas 200,000 dwellings were completed annually under the previous Government, while the population has grown by more than 1.6 million since the Government came to power; and
(3)further notes that the Government is already running more than 80,000 dwellings short of the National Housing Accord target of 1.2 million homes by mid-2029, and modelling by the National Housing Supply and Affordability Council says the Government will not reach its own target, falling more than 60,000 dwellings short.