The Albanese Labor Government has a comprehensive plan to ease housing shortages and improve affordability.

A re-elected Albanese Labor Government will deliver:

• An ambitious plan for 1.2 million new, well-located homes over 5 years.
• $33 billion to make it easier to buy, rent and build more homes.
• $54 million to accelerate the uptake of modern methods of construction to build more homes faster.
• Lower deposits and smaller mortgages for first home buyers, by giving all first home buyers access to 5% deposits - no caps on places or income. The Albanese Government will guarantee a portion of a first home buyer's home loan, so they can buy a home with a 5% deposit and not pay Lenders Mortgage Insurance.
• 100,000 homes built for sale only to first home buyers.
• Ban on foreign buyers from purchasing existing dwellings for two years.
• Up to $10,000 for eligible apprentices in housing construction sector.
• Unlocking more homes through $4.5 billion for states, territories and local government to address local infrastructure backlogs and meet housing targets through funding projects to improve planning capability, deliver enabling infrastructure, such as roads, water and power, and build more social housing.
• Continuing to deliver a 45% increase in maximum rates of Commonwealth Rent Assistance.
• $120 million from the National Productivity Fund to incentivise states and territories to remove red tape preventing the uptake of modern methods of construction.
• $8.9 million to the ATO and Treasury to target land banking by foreign buyers and ensure vacant land in Australia is put to productive use within reasonable timeframes.
• $9.3 billion to states and territories to help combat homelessness, provide crisis support, and maintain and repair social housing.
• Doubling of funding for homelessness services to around $400 million a year.
• Additional $1 billion to the National Housing Infrastructure Facility to support crisis and transitional accommodation for women and children experiencing domestic violence and for youth experiencing, or at risk of, homelessness.

Since we were elected in 2022, the Albanese Labor Government has:

• Strengthened renters’ rights through A Better Deal for Renters – minimum rental standards, limiting rent increases to once a year and required genuine, reasonable grounds for eviction.
• Delivered biggest investment in social and affordable housing in over a decade - building 55,000 social and affordable homes through initiatives like the Housing Australia Future Fund and the Social Housing Accelerator.
• Introduced Help to Buy scheme, where the government provides an equity contribution of up to 40% to eligible home buyers to purchase a home with a lower deposit and a smaller mortgage.
• Delivered Build to Rent tax concessions to help increase rental housing supply, including the supply of affordable tenancies, and to provide greater security and stability for renters, including stable 5-year tenancies.