Labor’s housing crisis

The Coalition is disappointed but not surprised by today's ABS Building Activity data showing home commencements falling 4.4 per cent and new home completions falling 6.5 per cent last quarter.

For three and a half years Labor has been building bureaucracies, not homes. Labor’s housing boondoggles are costing taxpayers $60 billion, yet they are building fewer homes than the former government. Under the former government, Australia was building an average of 190,000 new homes a year. Under this government that number has slumped to barely above 170,000 and is heading in the wrong direction. 

Today’s data shows new home completions have fallen by over 3,500 compared to this time last year. That’s right - despite all the money Labor have shovelled out the door in the last 12 months, they’ve actually built fewer homes. This government is an embarrassment.

The numbers don’t lie, Labor’s National Housing Accord to build 1.2 million new homes is dead, buried and cremated. Labor wants Australians to believe they’re solving the housing crisis, but the sad reality is that Labor and their housing bureaucracies are making things worse, especially for first home buyers.

Labor’s expanded Home Guarantee Scheme is adding jet fuel to the housing crisis. In just two weeks, since the scheme’s expansion, first home prices have already risen, which is why no economist or housing expert supports Labor’s approach.

If we have any chance of solving the housing crisis, we should have changed course yesterday. Labor has abandoned the private construction sector and first home buyers.

‍