Australia might not have an election date yet but the leaders look every bit in campaign-mode as the Coalition promises small business tax breaks and Labor touts big road spending.
With housing affordability high on the agenda for voters, the government is celebrating a milestone for first-time buyers.
Geelong brothers Jordan and Josh Camm, a teacher, and a tradie, have pooled their cash to get a foot on the property ladder.
“[We] probably wouldn’t have done it on our own for quite a while so being able to do it with your brother is quite exciting stuff,” Josh said.
They’re among 200,000 first home buyers who’ve now purchased with as little as a 5 per cent deposit using the federal government as a guarantor.
It’s a scheme that waives costly lenders mortgage insurance.
Once available only to singles and couples, the offer was expanded in 2023 to other joint buyers
“For instance we’ve got siblings going in with another family member or a friend,” Nicole Butler from National Australia Bank said.
Housing Minister Clare O’Neill said as many as a third of young Australians buying their first home “are getting that assistance and support from our government”.
The Coalition wants first home buyers to be able to tap into their superannuation for a deposit.
Both Labor and the Coalition agree increasing supply is the best way to tackle housing affordability.
Prime Minister Anthony Albanese is continuing to fork out big money for infrastructure projects that support growth.
He pledged $500 million in Commonwealth cash today to turn a semi-rural road in Western Sydney into an airport arterial.
“We’re a country that needs investment and we’re a government that’s prepared to provide it,” Albanese, said.
Opposition Leader Peter Dutton was critical.
“The Albanese government cut money from infrastructure in its budget – and on the eve of an election they announce road funding in the hope of turning around their political fortunes,” Dutton said.
In Brisbane, Dutton’s focus was also close to home, promising small businesses tax offsets for work lunches, “to provide their employees and their customers with a little bit of a reward”.
