HOME ownership has never been more unattainable, unless apparently, you’re Anthony Albanese and you have $4.3 million burning a hole in your back pocket.
The Prime Minister, Treasurer Jim Chalmers and Housing Minister Clare O’Neil need to come clean about the housing crisis and the fact there’s no end in sight.
It’s not just the Coalition who has cast doubts over Labor’s pledge to build 1.2 million new homes by 2029.
Housing experts say it’s a pipe dream.
The fact that more than 800 construction companies have gone bust on Labor’s watch in the first three months of the 24/25 financial year – we’re limited by who we even have to construct these proposed new dwellings.
Additionally, trade apprenticeship numbers have also declined, with completions down 8.6 per cent and commencements down 11.8 per cent, further impacting the construction sector.
The year 2023-24 has brought the lowest home building commencements in over a decade, dropping 8.8 per cent to just 158,690 new starts.
Under the former Coalition government, the number of dwellings commenced during the last full five calendar years from 2017 to 2021 was 1,028,703.
One new home needs to be built every 2.2 minutes to keep up with Labor’s promise to build 1.2 million homes.
The PM, joined by the Treasurer and the Housing Minister, made a point to visit our backyard last week to announce new housing in Meadowbrook.
I’m certain the timing wasn’t an attempt to give a jolt to Queensland Labor’s flailing campaign…
Problem being, where in Meadowbrook?
The big announcement came with zero background or specifics.
In fact, I’ve spoken with multiple realtors in the area, and none are familiar with any available land, that isn’t severely flood prone, that could accommodate this idea.
On the same day, we heard the announcement of Mr Albanese’ multi-million-dollar cliff-top, ocean-view, mansion purchase.
That revelation came with far more details than the people of Meadowbrook and Forde have been afforded.