Compare the policies – ours works, Labor’s can’t

Lowering immigration to reduce housing demand, banning foreign ownership of residential property to increase housing supply, and freeing up more land are effective policy solutions that must be adopted to address Australia’s worsening housing crisis. Labor promises to fix the housing crisis are meaningless without directly addressing the causes.

Supply is very low and demand is very high. You fix this by increasing supply and reducing demand. Our policy will increase housing supply for Australians by banning foreign ownership of residential property like Canada and New Zealand have done, and reduce housing demand by lowering immigration. Red tape that holds up new land releases must be eliminated as much as possible.

Labor’s record immigration, which has seen more than 200,000 new arrivals in the first two months of 2024 alone, is directly driving this crisis and forcing more Australians into mortgage stress and homelessness.

Labor’s own idea for a fix involves borrowing $10 billion and investing it in the hope (not any certainty) it will generate a return of $2.5 billion over five years, which will be spent on 30,000 new homes. The problem is: there’s no guarantee this borrowed fund will generate any kind of return; $2.5 billion is not remotely enough to build 30,000 homes; and Australia has a shortfall of at least 650,000 homes – 30,000 will hardly make a dent in this figure.

Labor’s policy will make no appreciable difference. It is a complete waste of effort. Labor can pull levers right now that would make a difference: lowering its record immigration levels, and banning foreigners from buying up Australian homes.

One Nation’s policy also includes affordability measures such as enabling superannuation funds to invest some of an individual’s super in their home, and addressing the many fees, charges and duties that make up to 45% the cost of new homes. To increase the availability of rental accommodation, we want to remove restrictions on ancillary dwellings like granny flats, let people rent out rooms in their primary residences tax-free, and revisit some of these state tenancy law changes that are driving property investors away from the long-term rental market.

We are promoting practical, effective, immediate, and affordable measures to fix the housing crisis.