Michael Sukkar MP

NEVER HAS A MEETING PROMISED SO MUCH AND DELIVERED SO LITTLE

THE HON MICHAEL SUKKAR MP

Shadow Minister for Social Services

Shadow Minister for NDIS

Shadow Minister for Housing

Shadow Minister for Homelessness

MEDIA RELEASE

16 August 2023

NEVER HAS A MEETING PROMISED SO MUCH AND DELIVERED SO LITTLE

Ahead of National Cabinet today, the Prime Minister raised expectations that he would deliver real solutions to Labor’s housing crisis. Not surprisingly, once again Australians struggling to buy their first home, pay their rent or meet skyrocketing mortgage repayments have been abandoned by this Government.

With no guaranteed investment in new housing stock, no concrete plan on increasing housing supply and nothing for first home buyers struggling to get into the market, it’s clear that the Albanese Government has given up.

Last October the Albanese Government announced an ‘aspiration’ to build one million homes over five years, yet multiple housing industry groups have since confirmed that with building activity falling off a cliff, this target could not be met. Now the Government has farcically plucked another arbitrary figure of 1.2 million homes over five years out of thin air, knowing these homes too will not be built.

The outcome of today’s meeting has cemented the harsh reality that this housing crisis is going to continue to get worse under the Albanese Labor government, who has absolutely no plan on how to improve it.

Sadly, new data from the Housing Industry Association (HIA) shows detached home building activity is set to slow to its lowest levels since 2012, dropping from a peak of 149,300 detached starts under the former Coalition government in 2021 to just 95,370 new starts expected in 2024.

Since this time last year, new home starts are down by 6.6 per cent, new home approvals are down by 15.5 per cent, new home sales are down by 37.4 per cent, first home buyers are at their lowest levels since the Gillard Government, the number of loans to first home buyers are down by 15.3 per cent, and national rents have increased by 10.3 per cent.

This Government is out of its depth and is obviously out of ideas at a time when it should be stepping up for first home buyers and renters.

With today’s half-hearted attempt, Anthony Albanese and Labor continue to fail addressing the real housing crisis impacting hard working Australians.

Ends