New data shows Labor’s taxes will block tens of thousands of new homes

Labor reducing housing supply is not new. That is their intention with the $77 billion in 2026-27 Budget taxes.

What is new is the revelation that up to 16,000 new homes will not be built due to the SMSF borrowing ban agreed by Treasurer Chalmers and the Greens.

Industry data makes clear the following:

• SMSFs add significant new housing stock - 16,000 just last year alone
• This is higher than Chalmers’ statement of 4,000 homes per year, based on data which is some 3 or more years old
• Labor didn’t do any economic and regulatory impact analysis in its deal with the Greens, which is now showing
• The lack of consistent application of “new” versus “existing” housing between the primary tax hike and the secondary SMSF Labor-Greens deal is very damaging to supply.

When you add the 35,000 dwellings already cut from supply by design in the 2026-27 Budget, the total number is now up to 195,000 houses over 10 years to be cut from supply. It makes the 40,000 contribution of Labor’s Housing Australia Future Fund meaningless.

Even under their warped logic that reduced investment is desirable, the “new” versus “existing” housing distinction is at least consistent. Labor's deal with the Greens was a dream of the Labor-aligned Big Super to hurt their SMSF competitors and grow market share. The Parliament should not be a clearing house for Labor Party Conference dreams.

Labor should get the details right for all Australians and support new housing - not cancel it.

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