Too small to change affordability
Critics argued the scheme would help only a small number of people and leave the wider housing crisis largely unchanged, making it a weak response to a much bigger affordability problem.
Help to Buy
Current status
This bill became law on Dec 10th, 2024.
Policy area
Budget, tax & economy
What does this bill do?
Housing AustraliaThe Commonwealth body that runs the scheme and enters the co-ownership arrangements with eligible buyers. can co-buy homes with eligible low and middle income people in participating states and territories, so the CommonwealthThe federal government in Canberra, which provides the scheme money and owns the public share in each participating home. covers part of the purchase cost and keeps a stake in the property.
Why was it introduced?
Low- and middle-income earners were left needing help to buyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. new or existing homes. This bill creates Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home., letting Housing AustraliaThe Commonwealth body that runs the scheme and enters the co-ownership arrangements with eligible buyers. co-buy with eligible people using a CommonwealthThe federal government in Canberra, which provides the scheme money and owns the public share in each participating home. equity contribution.
Broader context
Labor took Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. to the 2022 election as a shared-equity path into home ownership, but the scheme's promised 1 January 2023 start date passed before the legislation was introduced, leaving low- and middle-income earners without the planned assistance. The Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. Bill 2023 responded by setting up a CommonwealthThe federal government in Canberra, which provides the scheme money and owns the public share in each participating home. co-purchase scheme through Housing AustraliaThe Commonwealth body that runs the scheme and enters the co-ownership arrangements with eligible buyers., and after a long parliamentary path it passed in late November 2024 and received Royal AssentThe final formal approval that turns a bill passed by Parliament into an Act. on 10 December 2024.
Key criticism
The main criticism was that Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. is too small and too vague to fix housing affordability, while exposing buyers to risks in a shared-equity scheme if their circumstances change or rules are unclear. These concerns were raised most strongly by Coalition speakers, while some crossbench support remained conditional because the bill was seen as another demand-side measure that does not solve supply shortages.
Who supported it?
Hon Julie Collins MP introduced this bill. It passed with support from Labor, Centre Alliance, some crossbench members; opposed by Liberal Party, Nationals, Greens, some crossbench members.
Introduced in House 30 Nov 2023
Passed House 28 Feb 2024
Passed Senate 26 Nov 2024 Aye 36 No 29
Became law 10 Dec 2024
Did it become law?
Yes
Became law 10 Dec 2024
Final passage
Recorded final vote
1 counted final-passage vote was recorded.
Passage speed
376 days
From introduction to the latest recorded parliamentary step
Meaning
What does this bill do?
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Housing AustraliaThe Commonwealth body that runs the scheme and enters the co-ownership arrangements with eligible buyers. can co-buy homes with eligible low and middle income people in participating states and territories, so the CommonwealthThe federal government in Canberra, which provides the scheme money and owns the public share in each participating home. covers part of the purchase cost and keeps a stake in the property.
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The housing minister can set program rules on who can enter, how many homes are covered, what kinds of homes qualify, and how much CommonwealthThe federal government in Canberra, which provides the scheme money and owns the public share in each participating home. money can go into each purchase.
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CommonwealthThe federal government in Canberra, which provides the scheme money and owns the public share in each participating home. money for the program is paid directly to Housing AustraliaThe Commonwealth body that runs the scheme and enters the co-ownership arrangements with eligible buyers., and money that comes back from these home equity deals must be paid back to the CommonwealthThe federal government in Canberra, which provides the scheme money and owns the public share in each participating home..
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If a state stops fully participating, no new Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. home purchases can start there, but Housing AustraliaThe Commonwealth body that runs the scheme and enters the co-ownership arrangements with eligible buyers. can keep managing existing deals for people already in the program.
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If Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. clashes with a state or territory property or tax law, that local law can override the conflicting part, but the CommonwealthThe federal government in Canberra, which provides the scheme money and owns the public share in each participating home. still keeps its right to recover its equity share and security.
Show source excerpts
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This Act gives Housing Australia the function of entering, on behalf of the Commonwealth, into shared equity arrangements (known as Help to Buy arrangements) with buyers of residential property in participating States and in Territories. It also gives Housing Australia the function of continuing to administer existing Help to Buy arrangements when a State stops being a participating State.
Help to Buy Act 2024 final Act text -
(2) Without limiting subsection (1), the Help to Buy Program Directions may include directions about the following matters relating to Help to Buy arrangements:
Help to Buy Act 2024 final Act text -
Housing Australia must pay to the Commonwealth as soon as reasonably practicable:
Help to Buy Act 2024 final Act text -
A participating State may choose to become a cooperating State if it does not wish for new participants in that State to be able to purchase a residential property with the assistance of Help to Buy but wants to ensure that existing participants from that State can continue to be supported by the Help to Buy program, which refers to the Act, regulations, Program Directions and any other legislative instruments made under the Act. [Section 5 of the Bill]
Help to Buy explanatory memorandum -
Where there is a direct inconsistency and the relevant State or Territory law prevails, this displacement of all or part of the application of the Help to Buy program does not have any impact on Housing Australia’s entitlement under a Help to Buy arrangement to a return on a contribution made under the Help to Buy arrangement, nor does it have any impact on any security taken by Housing Australia to secure the entitlement (such as by means of a mortgage or other right relating to a residential property). In other words, Housing Australia is entitled to a return on an equity contribution made under a Help to Buy arrangement, and this entitlement will remain recoverable and any security taken will remain preserved despite the inconsistency.
Help to Buy explanatory memorandum
Context
Broader context for this bill
Labor took Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. to the 2022 election as a shared-equity path into home ownership, but the scheme's promised 1 January 2023 start date passed before the legislation was introduced, leaving low- and middle-income earners without the planned assistance. The Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. Bill 2023 responded by setting up a CommonwealthThe federal government in Canberra, which provides the scheme money and owns the public share in each participating home. co-purchase scheme through Housing AustraliaThe Commonwealth body that runs the scheme and enters the co-ownership arrangements with eligible buyers., and after a long parliamentary path it passed in late November 2024 and received Royal AssentThe final formal approval that turns a bill passed by Parliament into an Act. on 10 December 2024.
- 2022
Labor takes Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. to the federal election
During the bill debate, speakers said Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. had been taken to the 2022 election as a promised shared-equity housing measure.
Hansard ↗ - 01 Jan 2023
Promised Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. start date passes without legislation
Opposition speakers said the scheme had been promised to commence on 1 January 2023, but legislation was still not before Parliament by early 2024.
Hansard ↗ - 30 Nov 2023
Government introduces the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill
The government introduced the bill to let Housing AustraliaThe Commonwealth body that runs the scheme and enters the co-ownership arrangements with eligible buyers. co-buy homes with eligible low- and middle-income Australians using a CommonwealthThe federal government in Canberra, which provides the scheme money and owns the public share in each participating home. equity contribution.
Hansard ↗ - 28 Feb 2024
House passes the bill
The House agreed to the bill at second and third reading, sending the proposed shared-equity scheme on to the Senate.
Parliamentary timeline ↗ - 27 Nov 2024
Parliament passes the bill
Both houses passed the bill in the same form after the House agreed to Senate amendments, completing its parliamentary passage.
Parliamentary timeline ↗ - 10 Dec 2024
Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. becomes law
Royal AssentThe final formal approval that turns a bill passed by Parliament into an Act. turned the bill into an Act, allowing the CommonwealthThe federal government in Canberra, which provides the scheme money and owns the public share in each participating home. shared-equity scheme to be established in law.
Parliamentary timeline ↗
Legislative route
How did it move through Parliament?
House Senate
Introduced 30 Nov 2023
The bill was formally presented to the chamber and read a first time, which starts its parliamentary journey.
Introduced and read a first time
Second readingThe parliamentary stage where MPs debate whether to support the bill in principle before detailed consideration. opened 30 Nov 2023
A minister or sponsoring member moved the second readingThe parliamentary stage where MPs debate whether to support the bill in principle before detailed consideration., opening the main debate on the bill's purpose and principles.
Second readingThe parliamentary stage where MPs debate whether to support the bill in principle before detailed consideration. moved
Economics Legislation Committee; Committee report (18/04/2024) review 30 Nov 2023
Referred to Committee (30/11/2023): Senate Economics Legislation Committee; Committee report (18/04/2024)
Referred to committee
APH bill page notesSecond readingThe parliamentary stage where MPs debate whether to support the bill in principle before detailed consideration. debate 15 Feb 2024
The bill reached this recorded parliamentary step.
Second readingThe parliamentary stage where MPs debate whether to support the bill in principle before detailed consideration. debate 26 Feb 2024
The bill reached this recorded parliamentary step.
Second readingThe parliamentary stage where MPs debate whether to support the bill in principle before detailed consideration. debate 27 Feb 2024
The bill reached this recorded parliamentary step.
Second readingThe parliamentary stage where MPs debate whether to support the bill in principle before detailed consideration. debate 28 Feb 2024
The bill reached this recorded parliamentary step.
House second readingThe parliamentary stage where MPs debate whether to support the bill in principle before detailed consideration. agreed Aye 85 No 55 28 Feb 2024
Recorded vote: 85 to 55.
The chamber agreed to the bill at second readingThe parliamentary stage where MPs debate whether to support the bill in principle before detailed consideration., meaning it accepted the bill in principle and allowed it to continue.
Second readingThe parliamentary stage where MPs debate whether to support the bill in principle before detailed consideration. agreed to
Consideration in detail 28 Feb 2024
The chamber considered the bill in detail and dealt with amendments before the next stage.
Consideration in detail debate
House third reading agreed 28 Feb 2024
The chamber agreed to the bill at third reading, which completed passage through that chamber. Later message exchanges with the other chamber were still recorded afterwards.
Third reading agreed to
Introduced 29 Feb 2024
The bill was formally presented to the chamber and read a first time, which starts its parliamentary journey.
Introduced and read a first time
Second readingThe parliamentary stage where MPs debate whether to support the bill in principle before detailed consideration. opened 29 Feb 2024
A minister or sponsoring member moved the second readingThe parliamentary stage where MPs debate whether to support the bill in principle before detailed consideration., opening the main debate on the bill's purpose and principles.
Second readingThe parliamentary stage where MPs debate whether to support the bill in principle before detailed consideration. moved
Second readingThe parliamentary stage where MPs debate whether to support the bill in principle before detailed consideration. debate 16 Sept 2024
The bill reached this recorded parliamentary step.
Second readingThe parliamentary stage where MPs debate whether to support the bill in principle before detailed consideration. debate 17 Sept 2024
The bill reached this recorded parliamentary step.
Second readingThe parliamentary stage where MPs debate whether to support the bill in principle before detailed consideration. debate 18 Sept 2024
The bill reached this recorded parliamentary step.
Second readingThe parliamentary stage where MPs debate whether to support the bill in principle before detailed consideration. amendment agreed to
Second readingThe parliamentary stage where MPs debate whether to support the bill in principle before detailed consideration. opened 26 Nov 2024
A minister or sponsoring member moved the second readingThe parliamentary stage where MPs debate whether to support the bill in principle before detailed consideration., opening the main debate on the bill's purpose and principles.
Second readingThe parliamentary stage where MPs debate whether to support the bill in principle before detailed consideration. moved
Second readingThe parliamentary stage where MPs debate whether to support the bill in principle before detailed consideration. debate 26 Nov 2024
The bill reached this recorded parliamentary step.
Senate second readingThe parliamentary stage where MPs debate whether to support the bill in principle before detailed consideration. agreed 26 Nov 2024
The chamber agreed to the bill at second readingThe parliamentary stage where MPs debate whether to support the bill in principle before detailed consideration., meaning it accepted the bill in principle and allowed it to continue.
Second readingThe parliamentary stage where MPs debate whether to support the bill in principle before detailed consideration. agreed to
Senate agreed to amendment packages 26 Nov 2024
The chamber considered amendments before the bill moved to the next stage.
Committee of the Whole debate
Senate third reading agreed Aye 36 No 29 26 Nov 2024
Recorded vote: 36 to 29.
The chamber agreed to the bill at third reading, which completed passage through that chamber.
Third reading agreed to
Message from Senate reported 26 Nov 2024
The bill reached this recorded parliamentary step.
House agreed to Senate amendments on Senate review 27 Nov 2024
The House dealt with Senate amendments or requests so both chambers could settle the bill in the same form. The main amendments were: Observed text changed from "42 Avoiding inconsistency with State and Territory laws 29 Division 3—Other matters 33 43 Review by Administrative Appe…" to "41A When Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. program does not apply—exclusion by law of State or Territory 29 42 Avoiding inconsistency with St…".
Consideration of Senate message
Passed both houses 27 Nov 2024
Both houses passed the bill in the same form, completing parliamentary passage.
Finally passed both Houses
Assent 10 Dec 2024
The Governor-General gave Royal AssentThe final formal approval that turns a bill passed by Parliament into an Act., turning the bill into an Act.
Key criticism
The main case against this bill
The main criticism was that Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. is too small and too vague to fix housing affordability, while exposing buyers to risks in a shared-equity scheme if their circumstances change or rules are unclear. These concerns were raised most strongly by Coalition speakers, while some crossbench support remained conditional because the bill was seen as another demand-side measure that does not solve supply shortages.
Criticism was real but split between design risks and claims the policy was too limited to matter.
Does not tackle housing supply
A repeated objection was that the bill is a demand-side subsidy that does not increase housing supply, so it cannot solve the underlying cause of high prices and may just help a few buyers compete in a tight market.
Unclear rules and buyer risk
Opponents said too many key details were left to later rules, leaving uncertainty about eligibility, repayment, ownership and what happens if a participant's circumstances change, including concern some people could be forced to sell.
Further sources
Votes
Recorded votes
How the bill itself passed
The chamber-passage votes come first. Expand a vote to see the party breakdown.
Passed House passed the bill
House agreed to the bill's third reading on the voices, so there is no list of individual Aye and No votes for final passage in that chamber.
Passed
House passed the bill
Passed on the voices
In a voice vote, members call out Aye or No and the presiding officer judges which side has it. Individual names are only recorded if a formal division is called.
Carried Senate passed the bill
Passed 36 to 29. Support came from Labor, Greens, Australia's Voice, and minor parties and independents. Opposition came from Liberal Party, Nationals, One Nation, and UAP. Minor-party and independent votes were split.
Carried
Senate passed the bill
Party Aye / No
Labor 18 / 0
Liberal Party 0 / 17
Greens 11 / 0
Unknown 3 / 6
Independent 3 / 0
Nationals 0 / 3
One Nation 0 / 2
Australia's Voice 1 / 0
UAP 0 / 1
Earlier bill-stage votes
Carried Senate cleared second reading
Passed 39 to 22. Support came from Liberal Party, Greens, Nationals, and One Nation. Opposition came from Labor and minor parties and independents. Minor-party and independent votes were split.
Carried
Senate cleared second reading
Party Aye / No
Labor 0 / 17
Liberal Party 17 / 0
Greens 10 / 0
Unknown 6 / 3
Nationals 4 / 0
Independent 0 / 2
One Nation 1 / 0
UAP 1 / 0
Carried House cleared second reading
Passed 85 to 55. Support came from Labor, Centre Alliance, and minor parties and independents. Opposition came from Liberal Party, Nationals, and Greens. Minor-party and independent votes were split.
Carried
House cleared second reading
Party Aye / No
Labor 64 / 0
Unknown 12 / 24
Liberal Party 0 / 19
Nationals 0 / 11
Independent 8 / 0
Greens 0 / 1
Centre Alliance 1 / 0
Amendments at a glance
Amendments grouped by chamber. Where APH reports aggregate counts, the package card summarizes the matching public amendment sheets by source theme.
House
Carried Cut off debate on Senate message
Passed 74 to 62. Support came from Labor. Opposition came from Liberal Party, Nationals, Centre Alliance, and minor parties and independents. Minor-party and independent votes were split.
Carried
Cut off debate on Senate message
It was a procedural step to end debate and move immediately to the vote on the Senate amendments.
Party Aye / No
Labor 65 / 0
Unknown 9 / 23
Liberal Party 0 / 19
Nationals 0 / 12
Independent 0 / 7
Centre Alliance 0 / 1
Carried House accepted the Senate amendments
Passed 89 to 52. Support came from Labor, Greens, Centre Alliance, and minor parties and independents. Opposition came from Liberal Party and Nationals. Minor-party and independent votes were split.
Carried
House accepted the Senate amendments
The proposed change was agreed.
Party Aye / No
Labor 65 / 0
Unknown 14 / 21
Liberal Party 0 / 19
Nationals 0 / 12
Independent 8 / 0
Greens 1 / 0
Centre Alliance 1 / 0
Defeated Make Help to Buy directions disallowable
Defeated 16 to 67. Support came from Greens, Centre Alliance, and minor parties and independents. Opposition came from Labor and Liberal Party. Minor-party and independent votes were split.
Defeated
Make Help to Buy directions disallowable
The amendment would have constrained ministerial control over eligibility and program settings, but the House rejected it.
Party Aye / No
Labor 0 / 55
Unknown 6 / 10
Independent 8 / 0
Liberal Party 0 / 2
Greens 1 / 0
Centre Alliance 1 / 0
Defeated Broaden Help to Buy for excluded buyers
Defeated 12 to 62. Support came from Centre Alliance and minor parties and independents. Opposition came from Labor and Liberal Party. Minor-party and independent votes were split.
Defeated
Broaden Help to Buy for excluded buyers
The package aimed to make the scheme less vague and more accessible to people facing housing disadvantage, but the House rejected it.
Party Aye / No
Labor 0 / 50
Unknown 3 / 11
Independent 8 / 0
Centre Alliance 1 / 0
Liberal Party 0 / 1
Carried House accepted all Senate amendments
The House agreed to the amendments made by the Senate, so the bill could pass both chambers in the same form.
Carried
House accepted all Senate amendments
Carried on voices
The chamber decided this amendment without a counted division, so there is no list of individual Aye and No votes.
Senate
Carried Delay the Help to Buy debate
Passed 39 to 22. Support came from Liberal Party, Greens, Nationals, and One Nation. Opposition came from Labor and minor parties and independents. Minor-party and independent votes were split.
Carried
Delay the Help to Buy debate
It was a procedural bid to slow the bills and force their later return to the chamber on a set timetable. The Senate agreed to the question.
Party Aye / No
Labor 0 / 17
Liberal Party 17 / 0
Greens 10 / 0
Unknown 6 / 3
Nationals 4 / 0
Independent 0 / 2
One Nation 1 / 0
UAP 1 / 0
Carried Protect Commonwealth Help to Buy rights
Passed 36 to 29. Support came from Labor, Greens, and minor parties and independents. Opposition came from Liberal Party, Nationals, One Nation, and UAP. Minor-party and independent votes were split.
Carried
Protect Commonwealth Help to Buy rights
The amendments were technical safeguards to keep the scheme operating where sections 41A and 42 might otherwise affect CommonwealthThe federal government in Canberra, which provides the scheme money and owns the public share in each participating home. rights or program mechanics.
Party Aye / No
Labor 19 / 0
Liberal Party 0 / 17
Greens 11 / 0
Unknown 3 / 6
Independent 3 / 0
Nationals 0 / 3
One Nation 0 / 2
UAP 0 / 1
Defeated Set Help to Buy targets and review
Defeated 17 to 38. Support came from Greens, Australia's Voice, and minor parties and independents. Opposition came from Labor, Liberal Party, One Nation, and Nationals. Minor-party and independent votes were split.
Defeated
Set Help to Buy targets and review
The package would have made the scheme more directive, more targeted, and more accountable, but the Senate rejected it.
Party Aye / No
Labor 0 / 19
Greens 11 / 0
Liberal Party 0 / 9
Unknown 2 / 6
Independent 3 / 0
One Nation 0 / 2
Australia's Voice 1 / 0
Nationals 0 / 1
UAP 0 / 1
Defeated Prioritise disabled and First Nations buyers
Defeated 16 to 38. Support came from Greens, Australia's Voice, and minor parties and independents. Opposition came from Labor, Liberal Party, One Nation, and Nationals. Minor-party and independent votes were split.
Defeated
Prioritise disabled and First Nations buyers
The proposal would have forced the program to reserve places for specific disadvantaged groups, but it was defeated.
Party Aye / No
Labor 0 / 19
Greens 11 / 0
Liberal Party 0 / 9
Unknown 1 / 6
Independent 3 / 0
One Nation 0 / 2
Australia's Voice 1 / 0
Nationals 0 / 1
UAP 0 / 1
Defeated Prioritise new builds and limit CommonwealthThe federal government in Canberra, which provides the scheme money and owns the public share in each participating home. contributions
Senator Faruqi’s proposal, decided on voices, would have directed Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. to favour newly built, never-occupied homes near transport and set lower CommonwealthThe federal government in Canberra, which provides the scheme money and owns the public share in each participating home. contribution caps for those homes.
Defeated
Prioritise new builds and limit CommonwealthThe federal government in Canberra, which provides the scheme money and owns the public share in each participating home. contributions
Defeated on voices
The chamber decided this amendment without a counted division, so there is no list of individual Aye and No votes.
Defeated Faruqi rent-freeze call defeated
The Senate defeated Senator Faruqi’s second-reading amendment, which called for negative gearing and capital gains tax changes, a rent freeze and more public housing.
Defeated
Faruqi rent-freeze call defeated
Defeated on voices
The chamber decided this amendment without a counted division, so there is no list of individual Aye and No votes.
Carried Government package: 3 amendments
Government amendments clarify and restrict how the Help to Buy program interacts with State, Territory and local laws by letting participating jurisdictions declare excluded matters and avoid inconsistency with the scheme.
Carried
Government package: 3 amendments
Passed on the voices
The chamber agreed to this amendment package without a counted vote. APH records the agreed count by amendment, while the source documents are grouped into amendment sheets.
This list includes amendment votes, procedural votes and votes on the bill itself.
Parliamentary debate
Who spoke, and what they said
Start here — lead voices
Sponsor speech Supports
Julie Collins
Julie Collins supports the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill and says it is another step to bring home ownership back within reach for more Australians.
Read in Hansard ↗ Lead opposing voice Opposes
Michael Sukkar
Michael Sukkar says the coalition will oppose the bill because it is a late, half-hearted shared-equity scheme that leaves major questions unanswered and could force people to sell if their circumstances change.
Read in Hansard ↗ Lead supporting voice Supports
Kate Chaney
Chaney says she will support the bill because it will help a targeted group of low- to middle-income buyers get into home ownership.
Read in Hansard ↗ Lead non-major voice Opposes
Kylea Tink
Tink opposes the bill as a headline-driven, short-term housing fix that lacks clear details, targeting and accountability.
Read in Hansard ↗All speeches by bloc
Labor
34 speakers · 37 contributions · 34 support
Labor
34 speakers · 37 contributions · 34 support
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Peter Khalil Peter Khalil supports the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill and says it is a serious response to the housing crisis that will help up to 40,000 Australians buy a home.
“The Help to Buy scheme fulfils Labor's election commitment to support up to 40,000 Australian families and households to purchase a home of their own. This will mean the government will support eligible homebuyers with an equity of up to 40 per cent for new homes and 30 per cent for existing homes. This policy will not only provide a foot in the door for Australians with smaller savings but also provide long-term relief for Australians who are part of the scheme.”
Read the full speech in Hansard ↗ -
Julian Hill Julian Hill strongly supports the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill and urges the House to pass it, saying it is a practical shared-equity scheme that will help up to 40,000 Australians into homeownership.
“I commend the bill to the House, and I encourage those opposite to march into their party room tomorrow and say: 'We've got it wrong. We need to dump our stupid policy and we need to actually vote for the government's legislation which will do something for 40,000 Australians to help them into the homeownership market.'”
Read the full speech in Hansard ↗ -
Kate Thwaites Thwaites supports the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill and urges the opposition to back it so more Australians can get into homeownership.
“That's why this government is working to help more Australians into homeownership, to change that.. This Help to Buy program will support thousands of Australians to make that homeownership dream a reality, supporting those thousands of Australians who are branching out on their own, moving on from their parents' place or a share house and going to their own place to call home. This is life changing. We know that housing affordability is front of mind for many Australians. Help to Buy will take what can currently seem impossible and put that homeownership dream within reach.”
Read the full speech in Hansard ↗ -
Marielle Smith Marielle Smith supports the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill and urges the Senate to pass it, saying it will help low- and middle-income Australians into home ownership with a small deposit and shared equityA home buying model where the buyer and another party both own part of the property, and the buyer later has to account for the other party's share..
“Let's be clear on what this bill does. It's a national shared-equity scheme designed to help more Australians into homeownership, where homeowners can purchase property with just a two per cent deposit. The government will also support eligible homebuyers with an equity contribution—up to 40 per cent for new homes and 30 per cent for existing homes. It will support up to 40,000 low- and middle-income Australians to save hundreds every month on their mortgage. It's a good bill. It's a bill that will make a difference. It is not the whole answer to everything happening in the housing market. It is not the answer to every challenge before us. But it is an answer. It is one pathway. It is one thing that will make a difference. But, like every other bill we've brought to this place and every other plan we've brought to this place, it will be subjected to meme after meme after meme and click after click after click, and we will hear, 'No, no, no, no,' from those opposite, who just aren't interested in engaging.”
Read the full speech in Hansard ↗ -
Josh Wilson Josh Wilson supports the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill and says it will help low-income Australians, especially younger buyers, get into home ownership through shared equityA home buying model where the buyer and another party both own part of the property, and the buyer later has to account for the other party's share..
“In that cause, we are delivering the Help to Buy scheme. It's part of a wider package but an important measure in itself. The concept is very simple: the Albanese government, in partnership with state and territory governments, is going to assist low-income Australians to own a home by sharing the investment in that home with them. We know that there are significant barriers to homeownership, especially for younger and low-income Australians. We know that saving a deposit is hard when there are so many other cost pressures. We know that getting a loan is not easy. This scheme will assist by allowing government to take a share in the purchase of a home, thereby alleviating what is otherwise an obstacle that many Australians can't overcome.”
Read the full speech in Hansard ↗ -
Catryna Bilyk Bilyk supports the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill and urges the Senate to let it pass, arguing it will help low- and middle-income Australians overcome the deposit and mortgage barriers to home ownership.
“It's time for the coalition and the Greens to get out of the way and allow Labor to get on with delivering our election commitment of helping thousands more Australians realise the dream of owning their home. I commend this bill to the Senate.”
Read the full speech in Hansard ↗ -
Tony Sheldon Sheldon supports the bill and says it would help up to 40,000 households buy a home by lowering the deposit and repayment burden.
“Labor's Help to Buy Scheme is very simple. If we pass this bill, it will support up to 40,000 Australian households to purchase a home of their own. The federal government will invest in up to 40 per cent of the purchase price for new homes and 30 per cent for existing homes. So you will only need to get a mortgage for 60 or 70 per cent of the purchase price, which means the amount you need to save for a deposit is considerably lower. This bill is a lifeline for those who do not have wealthy parents to ask for a leg-up, for a deposit. The bill also means that, because your mortgage is considerably smaller, your repayments are considerably smaller. So not only does it make the home more affordable to save for; it makes it more affordable to pay off. This bill makes housing attainable for tens of thousands of Australian families who otherwise might never own their own home.”
Read the full speech in Hansard ↗ -
Daniel Mulino Mulino strongly supports the bill and says it is an important part of the government's wider housing affordability response, because it helps younger and lower-income households save a deposit and get onto the home ownership ladder.
“This is an important component of the government's overarching response. It will help 40,000 households—40,000 families—and I very strongly commend it to the House.”
Read the full speech in Hansard ↗ -
Nita Green Nita Green strongly supports the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill and wants the Senate to pass it, saying it would help low- and middle-income Australians, especially nurses, teachers and childcare workers, get into home ownership with a smaller deposit.
“I really hope that the Senate looks at this bill, takes the opportunity to work together, instead of working against Australians and blocking housing, and gives this government the opportunity to build more houses and to help more people into houses of their own for their families, for their kids and for the memories that they'll build together over many years to come.”
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Jess Walsh Jess Walsh supports the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill and urges the Greens to pass it, saying it is a practical shared-equity measure that will help 40,000 people, especially first-home buyers, essential workers and low-income families, into homeownership sooner.
“I appeal to the Greens to pass these bills and support our Help to Buy legislation, because the Greens know that each and every housing measure makes a huge difference to people's lives. We all know that we need to get on with building 1.2 million homes over the next five years. We all know we need to help people into homeownership, and we all know that shared-equity schemes like Help to Buy are an absolutely critical way of doing just that. So the message to the Greens is to just get this done. Just get this done!”
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Rob Mitchell Mitchell supports the bill and says it will help more Australians buy a home by lowering deposits and mortgage repayments.
“This bill is one of the many ways the Albanese Labor government is honouring our commitment to tackle the housing issue across the country, and I commend the bill to the House.”
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Carina Garland Garland supports the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill and says it delivers on Labor's election commitment to make homeownership more affordable for low- and middle-income Australians.
“It's my pleasure to rise in support of this important bill and genuine policy reform. In May 2022 Labor took the Help to Buy policy to our communities as one of our key election commitments. The Help to Buy Bill 2023 and Help to Buy (Consequential Provisions) Bill 2023 give effect to this commitment and provide for Housing Australia to administer the Help to Buy scheme, supported by a referral of power from the states.”
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Deborah O'Neill O'Neill strongly समर्थन the bill and says the Senate should pass it because it will help Australians on low incomes get into home ownership with government equity support.
“I am going to remain hopeful because I have given a speech here about why Australians should have hope. It is because the Albanese government is delivering housing for Australians. We are delivering it through multiple, multiple means. But the one that we are debating here today deserves the support of the Senate. It should give people, Australians, the chance at having their own home.”
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Dan Repacholi Repacholi supports the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill and says it will help low- and middle-income Australians buy a home with a smaller deposit and lower repayments.
“I commend this bill to the House and I look forward to seeing what the Greens have to say in response.”
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Sharon Claydon Claydon supports the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill and says it will help thousands more Australians buy a home by lowering the deposit needed and reducing mortgage repayments.
“The Help to Buy scheme, the legislation that's before the House this evening, is another piece of help we're providing to Australians trying to set up their own home. It's help for thousands more Australians wanting to own their own home. Through Help to Buy, the Commonwealth will cut the cost of buying a home by up to 40 per cent. Participants will require only a minimum of a two per cent deposit and will benefit from lower ongoing mortgage repayments through having a smaller home loan. It will be the first national shared equity scheme of its kind, supporting up to 40,000 eligible Australians with purchasing a home. This scheme will be open to applications for four years, with 10,000 places available each year.”
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Michelle Ananda-Rajah Michelle Ananda-Rajah supports the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill and says it will help thousands of Australians get into home ownership by reducing the deposit and repayment burden.
“By directly addressing the problems of saving for a deposit and the cost of repayments, the Help to Buy scheme will be life-changing for thousands of Australians who have been locked out of the security and stability of homeownership. We are in a housing emergency, and I know one thing about managing emergencies: you don't just do one thing; you do everything. You come at the problem from multiple directions to rescue the patient. Right now we are in a housing crisis, and our multipronged strategy, which is broad based and comes at this problem from every angle, addressing skills, supply chain, red tape and capital, is the way to solve the problem, not by carving up Australia and dividing it and pitting one generation against the other. I commend this bill to the House.”
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Gordon Reid Reid supports the bill and says it will help more Australians, especially first home buyers on the Central Coast, get into home ownership.
“It's critical that governments at all levels consider every instrument available to them to increase the supply of housing across the nation, and that is what we are doing today. That is why we are debating this bill, because it is the right thing to do, it was an election commitment and now we are making good on it. As Regional Development Australia Central Coast, the RDACC, said, 'All governments need to get serious about creating more affordable housing on the Central Coast.' That is exactly what we are doing here today. We are making it easy for people to buy their first home, we are making sure that we are building more social and affordable housing and we are working with the states and territories, including the new Minns New South Wales government, to reduce red tape and increase housing approvals right across the country.”
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Anthony Albanese Albanese supports the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill and says Labor will vote for it because it is a practical shared-equity scheme that helps low- and middle-income Australians get into home ownership with a smaller deposit.
“Owning a home is about a sense of security, confidence, stability and belonging—a foundation on which you can build a better future for yourself and your family. And every member from the Labor Party of this House is proud to vote for this legislation. It's another positive step in our plan to increase homeownership.”
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Jana Stewart Jana Stewart strongly supports the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill and says it will help tens of thousands of Australians enter the housing market with smaller deposits and lower repayments.
“If the Greens or the Liberal Party were serious about getting housing affordability under control, there is one very practical and pragmatic thing they could do: vote for this bill. Instead of grandstanding or being complacent, they should pull themselves together and vote for something that we can all agree on.”
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Louise Miller-Frost Louise Miller-Frost supports the bill and says Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. is part of Labor's broader housing plan to help low- and middle-income Australians buy homes with a smaller deposit and lower repayments.
“This government understands that affordable housing is critical to economic wellbeing and is committed to supporting more Australians to be able to access housing. The Help to Buy Scheme is an important part of that raft of strategies to make housing more affordable and accessible for Australians. I commend the bill to the House.”
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Brian Mitchell Brian Mitchell supports the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill and says it will help 40,000 low- and middle-income Australians get into home ownership by lowering upfront deposit costs through shared equityA home buying model where the buyer and another party both own part of the property, and the buyer later has to account for the other party's share..
“The Greens and the Liberals need to stop standing in the way of first home buyers getting on that first step of the homeownership ladder. I implore them to do the right thing and get behind this bill.”
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Zaneta Mascarenhas Zaneta Mascarenhas supports the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill and says it is part of Labor’s broader housing agenda to make home ownership more accessible for middle-income Australians.
“I commend the plans that are before us today. The Help to Buy scheme is long term and effective. It is a sustainable solution. It provides a vehicle towards homeownership. Under Labor there's a pathway to own your own home. Under the Liberals there are just roadblocks. And I'll say it again: our challenges are serious, but we have serious solutions.”
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Tim Ayres 2 contributions Tim Ayres supports the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill and urges the Senate to pass it because he says it would help 40,000 low- and middle-income Australians buy homes with smaller mortgages, lower deposits and more affordable repayments.
Hansard records 2 separate contributions by Tim Ayres on this bill. They are grouped here so the speaker is listed once.
Second reading speech
Tim Ayres supports the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill and urges the Senate to pass it because he says it would help 40,000 low- and middle-income Australians buy homes with smaller mortgages, lower deposits and more affordable repayments. He argues opponents are putting partisan politics ahead of ordinary people who need housing support.
“All sorts of claims have been made—claims that it would have an inflationary impact. This is something in common between Senator McKim and Senator Bragg, It's just nonsense. It is not supported by any sensible economic analysis. The idea that this number of homes would have that kind of impact is wrong. All it would do is mean that low- and middle-income earners get a decent shake out of the housing system. I'm proud of these pieces of legislation. I urge senators to actually think about the faces behind the scheme—the people. If you can go down to the supermarket and look in the faces of nurses and teachers who can't afford homes, you've got less concern for the interests of ordinary Australians than I thought you did. I urge the Senate to support the bills.”
Read this contribution in Hansard ↗Second reading speech
Ayres supports the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill and says it delivers a national shared-equity scheme that will help 40,000 low- and middle-income households get into homeownership by lowering deposits and mortgage costs. He presents it as a major Labor housing commitment alongside other housing measures.
“The Labor government committed to establishing a national shared-equity scheme to help 40,000 low- and middle-income Australian households into homeownership. Today marks a significant step to delivering that promise.”
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Jerome Laxale Laxale supports the bill and says Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. will help renters into home ownership by lowering the deposit barrier and providing an equity contribution from the government.
“This policy is here to help renters own their own homes, and yet the Greens and the Liberals want to oppose it. They want to oppose it because it's all politics for them. Despite their grandstanding, we're determined to get on with this job. I commend this bill to the House.”
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Cassandra Fernando Fernando supports the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill and says it is a practical reform that will help up to 40,000 households buy a home by reducing deposit barriers and sharing equity with the CommonwealthThe federal government in Canberra, which provides the scheme money and owns the public share in each participating home..
“I urge all members in this House to support the passage of these bills for, in doing so, we will reaffirm our commitment to the fundamental principle that every Australian deserves a place to call home. I say to the Greens: I call on you not to hold this legislation hostage. Do not delay this bill like you delayed the Housing Australia Future Fund. Do not hold hostage the dream of homeownership for 40,000 Australians. Do not hold up this vital reform on some aspirational hill. This reform is practical and can be implemented immediately and will deliver for working Australians across this nation.”
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Shayne Neumann 2 contributions Shayne Neumann supports the bill because it gives effect to Labor's Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. policy and is meant to bring homeownership back within reach for 40,000 low- and middle-income households.
Hansard records 2 separate contributions by Shayne Neumann on this bill. They are grouped here so the speaker is listed once.
Second reading speech
Shayne Neumann supports the bill because it gives effect to Labor's Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. policy and is meant to bring homeownership back within reach for 40,000 low- and middle-income households. He says it will help people buy with a smaller deposit and mortgage, which he argues is a practical response to the housing crisis.
“In the lead-up to the 2022 election we announced that we had a help-to-buy policy as one of our key commitments to tackling the housing crisis, and this particular legislation gives effect to that. It'll help put homeownership back within the reach for 40,000 low- and middle-income households who have been locked out of the housing market.”
Read this contribution in Hansard ↗Second reading speech
Shayne Neumann supports the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill, saying it will help working-class and middle-class Australians get housing security and a path to home ownership. He argues the opposition and Greens are wrong to attack the scheme, because Labor is acting on housing and the bill gives people a real helping hand.
“I'm very pleased to rise to support the Help to Buy Bill 2023 and the related bill. I've been listening to the response from those opposite, who opposed the Housing Australia Future Fund, a $10 billion investment in housing this country which was to provide support for veterans, people in remote and regional Aboriginal communities, and women and children fleeing domestic and family violence—much-needed assistance.”
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Murray Watt Murray Watt supports the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill and says it is another important step to make home ownership more reachable for Australians.
“Today we are introducing legislation to make Help to Buy a reality.”
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Libby Coker Coker supports the bill, saying it will help more Australians buy a home by lowering deposits and costs while also easing pressure on housing and rents.
“This bill, alongside our ambitious housing agenda, is all about changing that reality.”
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Sally Sitou Sitou supports the bill and says Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. is an important step to help middle- and low-income Australians get into home ownership.
“We are also providing assistance to first-home buyers through the Help to Buy scheme, which is the bill before the parliament today. Help to Buy is the first national shared-equity scheme of its kind. It helps Australians get their feet on the housing ladder by reducing the amount required for both the saving of a deposit and the servicing of a mortgage. The government will loan applicants part of the upfront purchase price of a new home—either 30 per cent for an existing property or 40 per cent for a new build. Participants will require a two per cent deposit to access the scheme, making it significantly more affordable for participants. Forty thousand eligible participants will be able to access the scheme alongside a standard mortgage. This equity contribution ensures the sustainability of the program while offering lower ongoing mortgage repayments for individual participants. This scheme will be targeted at middle- and low-income Australians who might not otherwise be able to get a foot on the housing ladder.”
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Graham Perrett 2 contributions Perrett supports the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill and argues it will help low- and middle-income Australians get into home ownership with a targeted shared-equity scheme and a low deposit.
Hansard records 2 separate contributions by Graham Perrett on this bill. They are grouped here so the speaker is listed once.
Second reading speech
Perrett supports the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill and argues it will help low- and middle-income Australians get into home ownership with a targeted shared-equity scheme and a low deposit. He says delaying the bill would worsen housing pressure and urges the House to pass it.
“I commend this bill to the House.”
Read this contribution in Hansard ↗Second reading speech
Graham Perrett supports the bill and says it delivers on the government's election promise to help up to 40,000 Australians buy a home by easing deposit and mortgage hurdles. He defends the scheme as carefully designed and criticises the opposition for trying to discredit it.
“I rise in support of the motion moved by the Hon. Minister for Housing and member for Franklin. The Help to Buy policy was a key election commitment that we took to the Australian people in 2022, and the Help to Buy Bill 2023 is honouring that commitment. This will support up to 40,000 Australians purchase a home of their own. Despite the coalition's attempts to discredit this policy during the election, the Help to Buy scheme is a solid, no-nonsense policy squarely aimed at giving those on low and middle incomes the opportunity to purchase a home by helping participants overcome the hurdles of saving for a deposit and servicing a mortgage.”
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Luke Gosling Gosling supports the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill and says it is a practical way to help low- and middle-income Australians into home ownership by reducing the deposit and mortgage barriers.
“The Help to Buy Bill 2023 gives Housing Australia the power to enter into these shared equity arrangements. The scheme will give those on low and middle incomes an opportunity to buy a home with at least a two per cent deposit. This will allow them to access homeownership, which is linked to short-, medium- and long-term economic security, as all members understand. The scheme will help participants overcome both the hurdle of saving for a deposit and that of servicing a mortgage. We all know that these are some of the key barriers to homeownership.”
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Julie Collins ★ Julie Collins supports the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill and says it is another step to bring home ownership back within reach for more Australians.
“Today we are introducing legislation to make Help to Buy a reality.”
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Clare O'Neil O'Neil strongly supports the bill and urges the parliament to pass it, arguing it will help 40,000 low- and middle-income Australians into homeownership.
“I really call on others in the parliament to come forward and support this bill. There is no public policy reason to stand in the path of 40,000 people who need and deserve the government's help. We deal with a lot of legislation in this parliament. We face few opportunities that are as clear as this one to, in one move, be able to change the lives of 40,000 people around our country, and I urge the Liberals and the Greens to work with the government to take it.”
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Don Farrell Farrell supports the bill, saying it delivers Labor’s national shared equityA home buying model where the buyer and another party both own part of the property, and the buyer later has to account for the other party's share. scheme to help low- and middle-income Australians buy a home with a smaller deposit and lower repayments.
“The Help to Buy scheme will be the first national shared equity scheme of its kind. It will be delivered through Housing Australia and will help Australians to overcome both the hurdle of saving for a deposit and servicing a mortgage.”
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Coalition
35 speakers · 34 oppose · 1 mixed
Coalition
35 speakers · 34 oppose · 1 mixed
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Michael Sukkar ★ Michael Sukkar says the coalition will oppose the bill because it is a late, half-hearted shared-equity scheme that leaves major questions unanswered and could force people to sell if their circumstances change.
“For all of those reasons I reiterate that, as we said before the election, we do not support this bill. We do not support this half-hearted attempt at being seen to have any concern for Australia's housing market. It shouldn't be called the Help to Buy Bill; it should be called the 'Forced to Sell Bill'—that's what this will end up being. We in good conscious will not support it.”
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Anne Ruston Ruston says the opposition will not support the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill because it is late, poorly designed, and too small to solve the housing crisis.
“For all those reasons, I reiterate that, as we said before the election, we do not support this bill. It shouldn't be called the Help to Buy Bill; it should be called the 'Force to Sell Bill', because that's what it will end up doing to Australians. We cannot in good consciousness support this bill.”
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Henry Pike Henry Pike says the coalition will oppose the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill because it creates a risky shared-equity scheme with too little detail, and he argues it will not solve the housing shortage or affordability crisis.
“We need to have details on which lenders will participate, how participants may be able to exit the scheme, how they may be able to buy the government out of their share and what the property price caps are. Will this be available for every single home in Australia, or will it be a target band? We don't have that level of detail yet. With so much unknown and uncertain about this proposal, the government are asking first home buyers to enter into this scheme and take a significant risk. The scheme also puts the Commonwealth at a financial risk if defaults on mortgages occur, due the removal of the need for lenders mortgage insurance. It's risky for homebuyers, it's risky for government and it's too risky for the coalition to support.”
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Luke Howarth Howarth says the coalition will oppose the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill because he thinks it is poor value, too costly, and full of unanswered questions about how the shared-equity scheme would work.
“The coalition will oppose the Help to Buy Bill 2023. The reason why is that we think $5.5 billion could be better spent elsewhere. As the member for Barker just said, very correctly, this is bad policy. This is policy on the run.”
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James Stevens Stevens says the coalition will oppose the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill because it does not increase housing supply, is a weak response to affordability pressures, and could trap vulnerable buyers in a risky shared-equity scheme.
“We don't support this bill. We know that there is a huge challenge when it comes to housing affordability and people accessing and achieving the great Australian dream. And it should be more than just a dream; it should be a reality for all Australians to have an ambition to own their own home. It would be good for the government to bring some legislation before this parliament that would actually have a likelihood of making any form of meaningful impact on that. This certainly doesn't. We don't support it, and I won't support the second reading passage of the bill.”
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Colin Boyce Boyce says the coalition will oppose the bill because it does not provide solutions in the national interest.
“I wish to conclude by saying that the Help to Buy Bill 2023 does not provide solutions that are in the national interest. That's why we oppose the bill.”
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Sam Birrell Sam Birrell opposes the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill because he says it is a flawed shared-equity scheme with too many unanswered questions and unlikely to fix housing affordability.
“I am opposed to this bill, because I believe this isn't a serious attempt to solve what is a significant problem in Australia at the moment. Similar programs have caused problems. On this side, we are opposed to the principle of excessive government involvement in peoples' affairs, and there are too many unanswered questions in relation to this piece of legislation.”
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Cameron Caldwell Cameron Caldwell opposes the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill, saying it is a weak and undercooked shared-equity scheme that gives Australians too little detail and too much government involvement in their homes.
“This bill before the House is simply not fit for purpose and definitely doesn't meet the lofty ambitious agenda that Labor insisted would be seen with them in government. The Australian people have been again led up the garden path by this Prime Minister, who desperately needs a solution. Quite frankly, this is not it. For the reasons I've outlined, I support my coalition team in opposing this bill.”
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Garth Hamilton Garth Hamilton opposes the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill, saying it gives up on real home ownership and only gets people to a partial, subsidised version of it.
“Those on this side strongly stand by those Australians who have that aspiration and want to own their own home in their own name. We stand with those people. We will not give up. We will set out for Everest acknowledging the great challenges in front of us. They are many and will not be solved in the short term, but we will not set up on that ambition, give up at base camp and try to tell people that this is homeownership—that we've taken this first step, and that's going to get us there. The issue is more than that. The issue is more than just bricks and mortar or a roof over your head. The issue is your ability to have a place of your own, in your own name, outright, that you can be proud is yours. It's an ambition that Australians have held for such a long time, and I hope we can continue to hold it. I think it's worthy of fighting for. I don't think giving up on that ambition is worthy of the Australian people.”
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Aaron Violi Violi opposes the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill, saying the shared-equity scheme will not solve the housing crisis and will leave buyers with the government taking a large share when they sell.
“However, this scheme that we are talking about, the shared-equity scheme in the Help to Buy 2023 Bill, is not going to achieve that for the Australian people. We know it's not the answer, because the uptake of shared-equity schemes in state jurisdictions shows that.”
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David Coleman Coleman opposes the bill, saying the government has been slow, vague and incompetent on housing and that this scheme is too thin and leaves basic questions unanswered.
“In that situation, how can this parliament support such a bill? It is reflective of an entirely failed policy area—housing—by the Albanese government.”
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Zoe McKenzie Zoe McKenzie opposes the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill, arguing it is too small, too restrictive, and likely to push up prices while failing to help people in her electorate.
“This Help to Buy scheme, like so many others, promises a myth, a hope, a dream in which the fine detail actually destroys and which, like so many other Labor white elephants we have seen legislated in this place, will miss its target and fail to fulfill the dreams of young and old would-be homeowners alike. This bill and the associated bills will drive up the cost of cheaper homes—that is, if you can find a house under $950,000 in Sydney or $650,000 in Brisbane. The competition at that level will be that much fiercer because the lucky few who will fit into the odd angles of this scheme and its rules will believe that they have a 30 to 40 per cent head start on all the others who do not.”
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Jenny Ware Ware opposes the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. Bill 2023, saying it will not help first home buyers into new homes and that the government has left too many key details unanswered.
“This Help to Buy Bill is not going to assist first home buyers into new homes. There are too many questions that have remained open and unanswered by the minister, and that is why this bill should not be supported.”
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Paul Fletcher Paul Fletcher says the coalition will oppose the bill because he считает the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. scheme is badly targeted, poorly designed and poor value for taxpayers, with only limited benefit for a small number of households.
“But I say to Australians: do not think that, once this legislation is through, there's going to be a miraculous change in the availability of housing, because there's more that needs to be done. It's a niche scheme at best, and poorly targeted, badly designed, poor value for taxpayers' money, and politics over policy substance. The coalition opposes this bill.”
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Nola Marino Nola Marino opposes the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill, arguing that the shared-equity scheme is too vague and may leave buyers exposed to costs, defaults and a lack of control over their homes.
“We've also got significant problems in WA with delays in Western Power approvals and the cost. The Help to Buy scheme will not meet the needs of Australians in the circumstances that I'm talking about. But, again, I want to warn those who are considering taking up this option to please do your homework. Do your own due diligence so you are fully aware of all of the costs from the beginning to the end of this process. This will depend on the criteria the government sets, because they're not there now.”
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Anne Webster Webster says the coalition will oppose the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill because Labor has broken its housing promises and the scheme would add more federal spending while failing to fix the underlying housing supply problem.
“The coalition opposes this bill. I remind the chamber that the Albanese Labor government promoting this bill is a government that breaks its promises. They promised 100 times not to change stage 3 tax cuts and broke that promise before Australia Day. Today, on this bill, the Albanese Labor government would have us believe they didn't break their Help to Buy promise. This policy was due to begin 1 January 2023—a little over a year ago. After their doomed referendum with an almost half-a-billion-dollar taxpayer bill, Labor have been so distracted that they didn't get on with this initiative until now and broke their promise of starting it almost 14 months ago. Another looming broken promise is the ticking clock on the Albanese government's promise to build 1.2 million homes over five years from 1 July 2024. The Housing Industry Association has confirmed Labor will fail to deliver at least 200,000 homes on this target. Only the Labor apologists think the full target can be achieved. Those are the same delirious apologists who think Labor's $275 reduction in power bills will materialise in its promised time frame.”
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Terry Young Terry Young says the coalition will not support the bill because he thinks it gives the government too much involvement in private home buying and is a poor use of taxpayers' money.
“I'm all for supporting the government in any type of initiative that will actually help people. And there have been times when there has been bipartisan support for different bills, which have gone through. When we were in government, they supported some of ours. Now they're in government, we have supported some of theirs. But we will not support the bills that are not going to cut through and that are not the best spend of taxpayers' money, and this is one of those cases. It's as simple as that. It's our job to make sure that the government are spending taxpayers' money wisely, and in this case they are simply not.”
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Andrew Willcox Andrew Willcox opposes the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill, calling it a late and detail-free broken promise that would let the government take a stake in Australians' homes.
“This Help to Buy scheme is late. It's another broken promise. It lacks detail. You must have known after the referendum that Australians want detail. They want the detail on their policies so they can make an informed decision. We've got the Prime Minister here. Please, the best thing you can do, Prime Minister, is get rid of this legislation.”
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Michael McCormack Michael McCormack opposes the bill, arguing Labor brought the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. scheme forward too late and failed to deliver it when it said it would.
“Labor has failed again to do what it should to keep its promises. The Help to Buy Bill 2023 is now being debated in 2024. It should have been done if Labor were serious many, many months ago—last year. Too little, too late—not good enough, Labor.”
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Tony Pasin Pasin opposes the bill, saying the shared-equity scheme is a costly demand-side measure that will not fix the housing shortage and is too vague to justify its $5.5 billion price tag.
“There is so much wrong with this bill, the Help to Buy Bill 2023. I want to start with the last point. In my maiden speech I referred to an Italian phrase which I spend a lot of time thinking about, particularly in my public life. Loosely translated, it is 'between the saying and doing, there's the ocean between'. And so it is here in terms of this shared-equity proposal by those opposite. There is a long way between the saying and the doing.”
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David Gillespie Gillespie opposes the bill, saying the shared-equity scheme is a weak and likely ineffective response to the housing crisis.
“Unfortunately, it will be another lame duck scheme that will attract very little interest.”
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Scott Buchholz Buchholz says the coalition will oppose the bill because he does not think it fixes the housing supply problem, and he argues it depends too heavily on state laws and will not have enough bite.
“In Queensland, we have a situation where we need 48,000 houses built a year. Currently the market is at full noise reaching 34,000. So we're 14,000 houses short at the moment, and what this debate on the Help to Buy bill allows us to do is address the demand and supply push. We'll be opposing this, and all the speakers on the coalition have made that point abundantly clear. We'll be opposing this bill because we just can't work out how it addresses the supply side of the argument. When I talk to builders, the ones that haven't gone broke recently—and Madam Speaker, as you would well know, if you turn the television on and watch the news cycle, it's with awkward regularity that we're seeing building companies collapse, under this government. It is with awkward regularity that we're seeing local builders go broke, under this government. It's just shameful that we're seeing this spike in builders leaving the industry since Labor came to power.”
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Rowan Ramsey Ramsey opposes the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill because he thinks the scheme is too uncertain, under-specified and likely to be undersubscribed, and he argues that low-interest loans are a better way to help people buy homes.
“I think the proposal as it stands won't do any harm, but it won't do any good. It's likely to be underspent some way down the path. We'll say, 'Well, that one didn't work.' I guess you could say that at least the money wasn't wasted, but, if it it's not going to do any good, I wonder what on earth we're standing here debating for today.”
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Melissa Price Melissa Price opposes the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill, calling it too little too late and arguing that it will not fix the housing crisis.
“What is this Albanese government's response to this housing crisis? Well, it's this so-called Help to Buy scheme before us today, a policy that is, frankly, too little too late. This policy was at the front and centre of those opposite's housing agenda before the last election, yet it has taken them some 20 months to bring it before the House. Despite the delay, we still have so many unanswered questions. Basic questions around eligibility and home improvements are yet to be answered. Honestly, they've had plenty of time to sort this out. It's unclear whether this Help to Buy Bill will instead force people to sell.”
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Phillip Thompson Phillip Thompson says the coalition will oppose the bill because it expands government ownership into people’s homes and is a costly, big-government scheme that Australians do not want.
“The coalition wants a smaller government. The politicians on this side of the House do not want to tell people what cars they have to buy. They don't want to force people to go into partnership with the government to buy their home. We want people to be aspirational and to have that vision and to have that security. That's why we will oppose this bill.”
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Andrew Wallace Andrew Wallace opposes the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill because he says it is vague, delayed, and gives would-be buyers no certainty about eligibility, income thresholds, or what happens if their circumstances change.
“Coming back to this bill, this bill does not provide any details to give a young family the information that they need to make an informed decision as to whether they want to enter into a long-term financial arrangement with the government—because that's exactly what they are doing with this bill. I would have thought that this housing minister would have had all these ducks in a row after 13 months of delay in bringing this bill to the House.”
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Dan Tehan Tehan opposes the bill, saying it is too vague, depends on state and territory cooperation, and leaves basic questions about eligibility, caps, lenders and enforcement unanswered.
“We need to address this and we need the government to act. They're not acting through this bill; as a matter of fact, they're making a bad situation worse, because the maths just do not add up. The questions are not being answered and it is another debacle. This is the absolute responsibility of the government. They need to do better and they need to do better quickly.”
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Ted O'Brien O'Brien says the coalition will oppose the bill because he thinks the shared-equity scheme gives government too much ownership in private homes, creates uncertainty for buyers, and will push up prices rather than help affordability.
“This goes to the core values and visions of the two governing parties of this country, and this bill should be opposed.”
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Michelle Landry Michelle Landry says the National Party will oppose the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill because it was delayed, poorly developed, and leaves major questions about eligibility, costs, and the scheme’s effect on housing prices.
“The Help to Buy Bill seems to be more about fulfilling an electoral promise than crafting a well thought out solution to the housing affordability crisis. After waiting for over 20 months for this legislation, it appears to be more of a rushed effort than a comprehensive plan.”
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Gavin Pearce Gavin Pearce opposes the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. Bill 2023, arguing it is too small to make a real dent in the housing crisis and that shared-equity schemes do not genuinely help Australians into home ownership.
“This Help to Buy Bill 2023 offers a niche program that categorically fails to address the real and pressing need in the housing market. It fails to address the market. It's not going to have a real impact on increasing the supply of our national housing stock.”
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Bert Van Manen Van Manen says he supports the goal of helping people into housing, but he does not back this bill as drafted because it lacks the KPIs he says are needed to force states to deliver social and affordable housing.
“We do need to encourage people and give people the opportunity to own their own home or, if they're not in a situation to own their own home, have a secure roof over their head, paying a level of rent they can afford. Nobody in this House disagrees with that proposition—nobody. But I don't believe that this bill as it's currently constructed without the relevant KPIs to force the state governments to do their job of providing social and affordable housing will achieve the results we're seeking to achieve.”
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Mark Coulton Coulton opposes the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill and says he will not vote for it, arguing it is window-dressing that puts the federal government into co-ownership of private homes instead of solving practical housing problems.
“There are a lot of other issues that the government could be dealing with that would stimulate the construction and purchase of homes without setting up a scheme where lying next to you in bed is the federal government as a part owner in your home. So we certainly think that this proposal is not to be supported. I won't be voting for this bill, for that very reason. I ask the government to go back to the drawing board and look at some practical, sensible solutions to help Australians own their own home.”
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Andrew Bragg Andrew Bragg opposes the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill, arguing it is a tiny and badly designed scheme that will help too few first home buyers and does nothing to fix the wider housing supply failure.
“Help to Buy will help very few Australians. This is a massive problem requiring a serious solution from a serious government. Australia does not have that at the moment, and that's why it's urgent that we get on and have the election so we can get rid of this terrible government and get the Australian dream back on track.”
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Ross Vasta Ross Vasta opposes the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill, arguing that the scheme is too small, too expensive and too underwhelming to help enough Australians into home ownership.
“We need a government who will empower Aussies to confidently enter the housing market. The scheme is too little, too niche and too underwhelming. Those who want to buy a home want to own it themselves; they don't want the government owning a portion. We need to be empowering and supporting Australians as they aspire to accomplish homeownership, to reap the full reward and satisfaction of their hard work.”
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Kevin Hogan Hogan opposes the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill, saying it is poorly designed, would help only a tiny number of people, and does little to increase housing supply.
“I won't go into some of the failings of the particular model that Labor have proposed. That's been done very articulately by other speakers on this side. I'll just mention that I think the number of households and people that this will help is quite minuscule, and, obviously, the money's quite huge for the number of houses and the number of people that it will potentially or maybe help. So I think it's poorly designed.”
Read the full speech in Hansard ↗
Greens
13 speakers · 14 contributions · 10 oppose · 3 mixed
Greens
13 speakers · 14 contributions · 10 oppose · 3 mixed
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Max Chandler-Mather Max Chandler-Mather opposes the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill, arguing it will help only a tiny fraction of renters while pushing up house prices for everyone else.
“Let's talk about this Help to Buy scheme that the government loves to talk about. You'll notice that they say, 'This is a scheme that's going to help people to buy a house.' They conveniently always forget to mention that it will only help 0.2 per cent of renters every year. For the other 99.8 per cent of renters, it will drive up the cost of housing. Don't ask the Greens, though. Here are two different senior economists—two radical lefties, by the way. One is Saul Eslake, former ANZ chief economist and notable radical leftie. Commenting on the New South Wales shared-equity scheme, he said, 'Anything that allows first home buyers to pay more for housing than they otherwise would will result in higher house prices and, as a result, lower homeownership rates.' Another radical lefty, AMP chief economist Shane Oliver, echoed this, arguing that bringing forward demand for housing risks worsening the crisis. The Prime Minister said, 'The New South Wales shared equity scheme is working really well.' Well, last year there were 3,000 places in that shared equity scheme. Can anyone take a guess at how many people took advantage of it? One hundred and seventy-two. That is a 95 per cent fail rate. It's almost comical. It would be comical if it were not for the fact that this government has the power to lift millions of people out of rental and housing stress and is instead lying to people. They get up and they say, 'We're about caring about people being able to afford a home,' but they absolutely know that this scheme will not lift the millions of people who are in desperate need of help right now out of housing and rental stress.”
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Larissa Waters Waters says the Greens will not back the bill in its current form because it is a small, demand-side housing scheme that would push up house prices and leave the main causes of the crisis untouched.
“In conclusion, Help to Buy as it's currently proposed fails to address the underlying causes of the housing affordability crisis in Australia. It aims to assist a small fraction of potential homeowners, and its limited scope and demand side approach are likely to exacerbate the housing crisis without offering any of the solutions that the government knows would work, as they did in the 20th century. This is a deeply unambitious policy introduced at a critical point where homelessness and rental and mortgage stress are skyrocketing. The government has the opportunity to work with the Greens and the crossbench right now to start to address these systemic issues that are forcing more people into housing stress and homelessness. Tinkering around the edges will not help the vast majority of people. The scheme's impact on house prices, although minimal in the broader context of the national housing market, represents a misguided allocation of resources that could otherwise be directed towards more effective solutions to this crisis. Please work with us to get good outcomes for people, rather than trying to force these bills on for a vote when you know they won't pass. (Time expired)”
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Steph Hodgins-May Hodgins-May says the Greens would be prepared to pass the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill only if Labor negotiates on negative gearing and capital gains tax discounts, but otherwise she argues the scheme will push up house prices and make the housing crisis worse.
“From the moment that this bill was introduced, the Greens have been willing to pass Labor's Help to Buy scheme if Labor negotiated with us on negative gearing and capital gains tax discounts.”
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Peter Whish-Wilson Whish-Wilson says the Greens would be willing to pass the bill only if Labor negotiates on stronger housing reforms, especially changes to negative gearing, rent controls, and more public housing.
“I need to say that from the moment this bill was introduced the Greens have been willing to work with Labor to pass this scheme if they negotiate with us on the policy that actually matters, like removing negative gearing and capital gains tax discounts and a whole bunch of other really important policies.”
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Barbara Pocock Barbara Pocock opposes the bill from a Greens housing-policy position.
“Housing policy in this country is geared towards pushing up housing prices, and the bill before us today is no different. It is more of the same.”
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Adam Bandt Bandt says the Greens will not support the bill because it would push up housing prices and keep giving tax handouts to wealthy property investors while renters and first home buyers are left worse off.
“I say this: if you don't use this opportunity in the House, then we won't be supporting this bill in the House. You've got the chance, before it goes to the Senate, to start tackling these big issues of tax handouts to the wealthy, building more public housing and capping and freezing rents. But, if you choose not to, Labor—if you make 2024 the year that you continue backing wealthy property investors—then the anger from renters and first home buyers is going to continue to grow.”
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Dorinda Cox Cox says the Greens oppose the bill because it is too small, too expensive in its effects, and does not address the real housing crisis.
“This bill represents a deeply unambitious policy, introduced at a time when homelessness is becoming such an entrenched problem. As I said, the cracks were starting to show with the millennials, and now we're asking whether our gen Zs and even our gen alphas will ever be able to afford their own homes. Once homelessness becomes so entrenched in our community, it doesn't just go away.”
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Mehreen Faruqi Faruqi opposes the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill because she says it will push up house prices and help only a tiny minority of renters while the government refuses to act on rent caps, tax concessions and public housing.
“Schemes like Help to Buy allow people to pay more for housing than they otherwise would be able to afford. As a result of these demand-side support measures—and there are other examples of these types of schemes, including the first home buyers grant and the coalition's HomeBuilder program—overall homeownership rates are lowered, as more people are priced out of housing. So, while the Help to Buy scheme might help the 0.2 per cent of people lucky to get access to the scheme, for the other 99.8 per cent it will make things worse by driving up house prices even further. Even though this is a small scheme, anything that pushes house prices up in the middle of a housing affordability crisis is a step in the wrong direction, and this is a decision that the Greens are not prepared to take.”
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Sarah Hanson-Young Sarah Hanson-Young says the Greens will oppose the bill because it is totally inadequate and would help only a tiny share of Australians while doing nothing for renters or the broader housing crisis.
“But this piece of legislation is totally inadequate. Rather than the government working with the Greens, the crossbench and others in this chamber to improve and deliver real solutions for people, we have a piece of legislation that is effectively useless. It does nothing to deal with those real issues.”
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Nick McKim 2 contributions McKim opposes the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill and moves a delaying amendment, arguing it would help only a tiny share of renters while pushing up house prices for everyone else.
Hansard records 2 separate contributions by Nick McKim, including an amendment-moving contribution. They are grouped here so the speaker is listed once.
Second reading speech
McKim opposes the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill, saying Labor's housing response is far too small for the scale of the crisis and that the scheme would help very few renters while pushing up house prices for everyone else.
“Since Labor came to power about two years ago, rents in Australia have increased by 30 per cent on average. Since Labor came to power about two years ago, mortgages have increased by an average of over $1,600 a month. More and more people are experiencing housing stress, and yet, instead of the big, bold, reformist approach proposed by the Australian Greens to respond to this massive social crisis, we're getting tinkering at the margins. What we are getting from Labor is, frankly, a pathetic response given the scale of the crisis. A centrepiece of that response is the Help to Buy scheme, which is basically a lottery that would help 0.2 per cent of renters and put house prices up for the other 99.8 per cent.”
Read this contribution in Hansard ↗Moved amendment
McKim opposes the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill and moves a delaying amendment, arguing it would help only a tiny share of renters while pushing up house prices for everyone else. He says the bill worsens the housing crisis instead of fixing it.
“Why are you putting forward legislation that will provide fractional help to 0.2 of one per cent of Australian renters and actually disadvantage the other 99.8 per cent of Australian renters? That is the question that you have to explain to the Australian people and, in particular, to Australian renters, 99.8 per cent of whom are going to be disadvantaged by this legislation, because, as with so much of your government's housing policy, you are going to contribute yet again to turbocharging house prices in Australia, which, of course, will price more and more people out of the market.”
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Jordon Steele-John Steele-John opposes the bill as drafted, saying it helps only a tiny share of renters and will not address the housing crisis.
“Now, the Greens have outlined our key asks in return for supporting passage of the legislation. These include action on freezing and capping rents, ending the tax handouts for property investors that stop renters buying their first home, and establishing a government owned property developer that would build 610,000 homes, to be sold off at just above the cost of construction, with rents capped at 25 per cent of income. Labor has not offered a single good-faith response to these proposals. The Greens are fighting for a two-year freeze on rent increases; a phase-out of unfair tax concessions, like negative gearing; and the reinvestment of this money into building beautiful, government built, sold and rented homes that people can actually afford. We need to take the real steps necessary to address the rental crisis. Australians deserve more than a housing lottery bill where 98 per cent of renters lose. This action must be taken.”
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Stephen Bates Stephen Bates opposes the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill, saying it is a demand-side housing lottery that will help only a tiny fraction of renters while pushing up prices and doing nothing to fix the housing crisis.
“Australians deserve and need more than a housing lottery bill where 99.8 per cent of renters get nothing.”
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Elizabeth Watson-Brown Watson-Brown opposes the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill, saying it would assist only a tiny share of renters while leaving the housing crisis fundamentally unchanged.
“I rise today to speak to the Help to Buy Bill 2023. It's called 'help to buy', but this bill won't help many. It'll help only about 0.2 per cent of renters while leaving behind the other 99.8 per cent. This just does not address the enormity of the housing crisis.”
Read the full speech in Hansard ↗
One Nation
2 speakers · 3 contributions · 2 oppose
One Nation
2 speakers · 3 contributions · 2 oppose
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Malcolm Roberts 2 contributions Roberts says One Nation opposes the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill because it will push up house prices, leaves major operating details unresolved, and sits on shaky constitutional ground.
Hansard records 2 separate contributions by Malcolm Roberts on this bill. They are grouped here so the speaker is listed once.
Second reading speech
Roberts says One Nation opposes the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill because it will push up house prices, leaves major operating details unresolved, and sits on shaky constitutional ground. He argues the government should focus instead on supply, immigration, foreign ownership, and measures that help people own homes outright.
“One Nation cannot support this bill without key details of its operation clarified and without action on the other, far more important elements of housing supply and demand.”
Read this contribution in Hansard ↗Second reading speech
Roberts opposes the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill, saying it will not help the housing crisis and will instead push prices up by subsidising buyers. He also argues the scheme is constitutionally flawed, overly complex, and does nothing to address high immigration and the shortage of tradies driving the problem.
“The Albanese government, though, wants to look like it's doing something—not do something but look like. Enter this Help to Buy plan. Under this plan, the government wants to own a significant part of your house. If it's an existing place, the government wants to own 30 per cent, and, if it's a new place, 40 per cent, with the government paying for part of it with low-income earners. While a 40 per cent subsidy might sound attractive, it's fatally flawed. If the government just borrows more money for this plan, then one thing is going to happen. When you give 40 per cent more money to people to buy a house, house prices are going to go up. House prices will go up.”
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Pauline Hanson Pauline Hanson says One Nation will oppose the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill because she thinks it is a waste of taxpayers' money, drives socialism, and does not address the real causes of the housing crisis.
“You are so far behind the eight ball. You're absolutely hopeless. I will not support this bill, based on the fact that it's a dog of a bill; it won't do anything. And it's not because I don't care about the Australian people. It's because you haven't got it right.”
Read the full speech in Hansard ↗
Minor parties and independents
10 speakers · 11 contributions · 6 support · 3 oppose · 1 mixed
Minor parties and independents
10 speakers · 11 contributions · 6 support · 3 oppose · 1 mixed
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Kylea Tink ★ Tink opposes the bill as a headline-driven, short-term housing fix that lacks clear details, targeting and accountability.
“Specifically, the lack of overarching goals and objectives, the lack of consideration of policy areas relevant to housing, including migration, the settlement policy, income support, financial regulation and tax, and the lack of any clear recognition that the housing system status quo is in need of fundamental change all mean, as we stand here today and are asked to pass this legislation, that we're asked to do so in a bubble of hope rather than the pursuit of tangible change in course.”
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Kate Chaney ★ Chaney says she will support the bill because it will help a targeted group of low- to middle-income buyers get into home ownership.
“On balance, I'll be supporting this bill. It will give relief to a small number of targeted low- to middle-income homebuyers. It will not, however, solve Australia's housing crisis. It's a small puzzle piece in a much larger problem which needs longer term systemic reform.”
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Allegra Spender Spender says she supports the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill and will vote for it, because it could help low-income workers who cannot save a deposit get into home ownership.
“Notwithstanding my concerns, I am a supporter of the Help to Buy scheme and the government's housing agenda more broadly, and I look forward to voting in favour of it and similar legislation in the future.”
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David Pocock 2 contributions Pocock supports the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill and says it will help people without wealthy parents, older women and single parents get into homeownership.
Hansard records 2 separate contributions by David Pocock on this bill. They are grouped here so the speaker is listed once.
Second reading speech
Pocock supports the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill and says it will help people without wealthy parents, older women and single parents get into homeownership. He argues it should be amended to expand the scheme, run longer, and focus more clearly on disadvantaged Australians.
“I back the intent of this bill because it will help people who don't have wealthy parents get into housing. We live in a country now where the bank of mum and dad is one of the biggest lenders, and, if you don't have wealthy parents, you're basically stuffed. We can't allow that to happen. We need to start putting measures in place now and also dealing with some of the root causes of the crisis that we're in. This bill will help older women—the cohort most at risk of homelessness—purchase a home on their own, and the same for single parents. While technically a demand-side measure when what we need is more supply, this bill will help some of the most vulnerable people in our community get into homeownership.”
Read this contribution in Hansard ↗Second reading speech
Pocock supports the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill as a useful first step for people who cannot rely on wealthy parents to get into home ownership, but says it is only part of the answer and needs amendments. He backs the bill while pressing for a bigger, longer-lasting scheme and broader housing reforms to address the root causes of the crisis.
“The housing system in this country is in trouble—there's no doubt about that; just get on the street and talk to people—but it's not beyond hope. These proposals that we're voting on today have their place. They're part of it, but they're clearly not going to solve the whole thing. So I'd urge the Senate to support these sorts of measures but then really get on with addressing some of the root causes, which, unfortunately, I think we're often not very good at, at times. I look forward to supporting the Help to Buy Bill as one part of helping people—people who can't rely on the bank of mum and dad to get them into the housing market.”
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Andrew Wilkie Wilkie supports the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill and says it is better than nothing because it could help deliver 40,000 homes.
“I'll be supporting the bill. It's not perfect, but it's better than nothing. If we don't get this bill through the parliament, those 40,000 homes which hopefully will be bought or built will not happen. I take the point from the member for Forrest. Yes, there are lots of questions. Yes, people need to go into this scheme with their eyes wide open. But that doesn't mean we stop it. Maybe we need to amend something; we need to fix it—put in some safeguards. I don't know. But it's no reason to stop it.”
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Dai Le Dai Le is critical of the bill as designed.
“Although affordability of property is the desired outcome, this may not be the case. Additional demand for houses under this scheme may place pressure on prices, which ultimately benefits sellers and not buyers.”
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Russell Broadbent Broadbent opposes the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill, saying it is just another government intervention that will add to housing costs rather than help people buy homes.
“So this bill, I believe, will not be a help-to-buy bill. I have a fundamental problem with government intervention. I hope I have made this point in this address—that is, when the government encourages a couple or an individual—”
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Gerard Rennick Rennick opposes the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. Bill 2023, arguing that spending $10 billion on shared-equity housing would not fix the real problem and that lower immigration and lower taxes would do more to improve affordability.
“This bill, the Help to Buy Bill 2023, epitomises everything that's been wrong with government policy over the last 40 years, and that is, effectively, governments have privatised all the public assets and now they want to nationalise all the private assets. The whole point of government is to build infrastructure that provides essential services and have that infrastructure generating recurring revenue to pay for the recurring costs of schools and hospitals. But we are now going to risk $10 billion of taxpayers' money to build 30,000 houses over five years, or 6,000 houses a year. When you have an immigration rate of over half a million people a year, how hard would it have been to just lower the immigration rate by 10,000 or 15,000 people? There's your problem solved; you don't even need to look at putting $10 billion on the line.”
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Rebekha Sharkie Sharkie says she will support the bill because she wants more Australians to achieve home ownership, but she argues that demand-side housing measures have not fixed the underlying affordability and supply problems.
“As I mentioned at the outset, I will not stand in the way of this bill. I will support this bill because I want every Australian to be able to realise their dream of owning their own home. However, I'll make it very clear that I will withdraw my support for this bill if amendments are made that reflect the wishes of the Australian Greens, who seek to attack the mums and dads of this country who have worked hard to buy a second home. Any changes to negative gearing or capital gains tax would be a broken promise and one that I steadfastly object to.”
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Tammy Tyrrell Tammy Tyrrell supports the Help to BuyThe shared-equity home ownership scheme in this bill, where the Commonwealth pays part of the purchase price and keeps a stake in the home. bill because she sees it as a practical way to help more people into home ownership, especially first home buyers and low to middle income buyers.
“This scheme is due to run for four years, meaning 40,000 individuals, families and couples will be helped into a home. About 850 of those spots have been earmarked for Tasmanians. Eight hundred and fifty home purchases over the next four years—that's a whole lot of happy people who can now buy a home, people who thought they may not have been able to or would be saving for a deposit for years to come. And those 850 homes are on top of the home purchases already being supported through the housing scheme that is running in Tasmania.”
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Record
Full record
- Act title
- Help to Buy Act 2024
- Act number
- Act No. 124, 2024
- Became law
- 10 Dec 2024
- Takes effect
- The whole of this Act 11 Dec 2024
- Registered
- 13 Dec 2024
- Administered by
- Department of the Treasury
- Final law metadata was collected from the APH progress table; commencement rows were parsed from the bill text.
- Status
- Act -- Collected from the APH bill page.
- Originating house
- House of Representatives
- 30 Nov 2023
House · Introduced and read a first time
Introduced
The bill was formally presented to the chamber and read a first time, which starts its parliamentary journey.
- 30 Nov 2023
House · Second reading moved
Second readingThe parliamentary stage where MPs debate whether to support the bill in principle before detailed consideration. opened
A minister or sponsoring member moved the second readingThe parliamentary stage where MPs debate whether to support the bill in principle before detailed consideration., opening the main debate on the bill's purpose and principles.
- 15 Feb 2024
House · Second reading debate
Second readingThe parliamentary stage where MPs debate whether to support the bill in principle before detailed consideration. debate
The bill reached this recorded parliamentary step.
- 26 Feb 2024
House · Second reading debate
Second readingThe parliamentary stage where MPs debate whether to support the bill in principle before detailed consideration. debate
The bill reached this recorded parliamentary step.
- 27 Feb 2024
House · Second reading debate
Second readingThe parliamentary stage where MPs debate whether to support the bill in principle before detailed consideration. debate
The bill reached this recorded parliamentary step.
- 28 Feb 2024
House · Second reading debate
Second readingThe parliamentary stage where MPs debate whether to support the bill in principle before detailed consideration. debate
The bill reached this recorded parliamentary step.
- 28 Feb 2024
House · Second reading agreed to
Recorded vote: 85 to 55.
Second readingThe parliamentary stage where MPs debate whether to support the bill in principle before detailed consideration. agreed
The chamber agreed to the bill at second readingThe parliamentary stage where MPs debate whether to support the bill in principle before detailed consideration., meaning it accepted the bill in principle and allowed it to continue.
- 28 Feb 2024
House · Consideration in detail debate
Consideration in detail
The chamber considered the bill in detail and dealt with amendments before the next stage.
- 28 Feb 2024
House · Third reading agreed to
Third reading agreed
The chamber agreed to the bill at third reading, which completed passage through that chamber.
- 29 Feb 2024
Senate · Introduced and read a first time
Introduced
The bill was formally presented to the chamber and read a first time, which starts its parliamentary journey.
- 29 Feb 2024
Senate · Second reading moved
Second readingThe parliamentary stage where MPs debate whether to support the bill in principle before detailed consideration. opened
A minister or sponsoring member moved the second readingThe parliamentary stage where MPs debate whether to support the bill in principle before detailed consideration., opening the main debate on the bill's purpose and principles.
- 16 Sept 2024
Senate · Second reading debate
Second readingThe parliamentary stage where MPs debate whether to support the bill in principle before detailed consideration. debate
The bill reached this recorded parliamentary step.
- 17 Sept 2024
Senate · Second reading debate
Second readingThe parliamentary stage where MPs debate whether to support the bill in principle before detailed consideration. debate
The bill reached this recorded parliamentary step.
- 18 Sept 2024
Senate · Second reading amendment agreed to Details: Further consideration of bill postponed to 26 November 2024
Second readingThe parliamentary stage where MPs debate whether to support the bill in principle before detailed consideration. debate
The bill reached this recorded parliamentary step.
- 26 Nov 2024
Senate · Second reading moved
Second readingThe parliamentary stage where MPs debate whether to support the bill in principle before detailed consideration. opened
A minister or sponsoring member moved the second readingThe parliamentary stage where MPs debate whether to support the bill in principle before detailed consideration., opening the main debate on the bill's purpose and principles.
- 26 Nov 2024
Senate · Second reading debate
Second readingThe parliamentary stage where MPs debate whether to support the bill in principle before detailed consideration. debate
The bill reached this recorded parliamentary step.
- 26 Nov 2024
Senate · Second reading agreed to
Second readingThe parliamentary stage where MPs debate whether to support the bill in principle before detailed consideration. agreed
The chamber agreed to the bill at second readingThe parliamentary stage where MPs debate whether to support the bill in principle before detailed consideration., meaning it accepted the bill in principle and allowed it to continue.
- 26 Nov 2024
Senate · Committee of the whole: amendments considered
Amendment packages agreed
The chamber considered amendments before the bill moved to the next stage.
- 26 Nov 2024
Senate · Third reading agreed to
Recorded vote: 36 to 29.
Third reading agreed
The chamber agreed to the bill at third reading, which completed passage through that chamber.
- 26 Nov 2024
House · Message from Senate reported
Message from Senate reported
The bill reached this recorded parliamentary step.
- 27 Nov 2024
House · Consideration of Senate message
House agreed to Senate amendments
The House dealt with Senate amendments or requests so both chambers could settle the bill in the same form.
- 27 Nov 2024
Parliament · Finally passed both Houses
Passed both houses
Both houses passed the bill in the same form, completing parliamentary passage.
- 10 Dec 2024
Assent · Assent
Assent
The Governor-General gave Royal AssentThe final formal approval that turns a bill passed by Parliament into an Act., turning the bill into an Act.
Senate Economics Legislation Committee; Committee report (18/04/2024)
Referred to committee
Referred to Committee (30 Nov 2023): Senate Economics Legislation Committee; Committee report (18 Apr 2024)
APH bill page notes