The Australian Labor government has reintroduced its contested Help to Buy legislation to Parliament, reigniting political debates over housing affordability.
Minister for Housing Clare O’Neil announced on 8 October that the Albanese government had brought the Help to Buy bills back to Parliament after failing to secure a vote in mid-September.
The proposed scheme aims to support 40,000 people into home ownership over four years. Under the plan, the government would contribute 40 per cent towards the purchase price of a new home and 30 per cent for an existing home, with location-based price caps in place.
“We know how difficult it is saving up for your first home. Help to Buy means a smaller deposit to help low- and middle-income Australians get on the housing ladder sooner,” Minister O’Neil said.
The scheme would allow home buyers to enter the market with a minimum 2 per cent deposit and offer lower ongoing repayments.
Minister O’Neil criticised the Coalition and the Greens for “putting politics ahead of progress” and urged them to support the legislation.
The reintroduction follows a two-month delay caused by opposition from the Australian Greens and the Coalition. Greens leader Adam Bandt had announced his party would delay the bill, seeking significant changes to negative gearing and capital gains tax policies, as well as rental freezes.
Greens Minister for Griffith, Max Chandler-Mather, criticised the scheme on social media, claiming that many essential workers would not qualify due to income restrictions.
Minister O’Neil refuted these claims, calling them “embarrassing” and suggesting the Greens were misrepresenting typical salaries for nurses and teachers.
During Question Time, Chandler-Mather accused Labor of offering “nothing” in negotiations over housing policy.
Prime Minister Anthony Albanese responded by stating that the government would not implement measures outside its policy platform and questioned the feasibility of some Greens proposals, such as a Commonwealth-imposed rent freeze.
As the political debate intensifies, the fate of the Help to Buy scheme remains uncertain, with its passage through Parliament dependent on cross-party negotiations and support.