Helping more people get into their first home sooner and easing the housing shortage.
Housing affordability
Australia's housing crisis was decades in the making, and it won't be fixed overnight.
There's a lot of work to do, but the Albanese Labor government is making real progress.
Making it easier for first home buyers
Julian Hill and the federal Labor government are helping more Australians get into their first home sooner.
Too many people are working hard and trying to save - but feel like the dream of home ownership has never been further out of reach.
5% Deposit Scheme
With the 5% Deposit Scheme the Australian government guarantees part of first home buyers' loans, so you can purchase a home with just a 5% deposit. And never pay a single dollar in lenders mortgage insurance.
This will take years off the time it takes to save up for a deposit.
First Home Super Saver Scheme
The First Home Super Saver Scheme helps you save a deposit for your first home using your super. By making extra voluntary contributions to your super fund, you can grow your savings faster and take advantage of lower tax rates, to help you buy or build your first home.
Help to Buy Scheme
If you've saved what you can but are still a little short of being able to buy a home that meets your needs, the Australian government Help to Buy Scheme may be able to bridge the gap.
Taking action to reduce the housing shortage
The Albanese government's reforms to increase housing supply include:
- a national target of 1.2 million new homes over 5 years
- investing in free TAFE and the $10,000 incentive for housing construction apprentices
- removing red tape barriers to construction
- delivering 55,000 social and affordable homes
- cutting taxes to develop 80,000 new rental homes.
