This bill became law on Dec 10th, 2024.
Budget, tax & economy
Housing AustraliaThe federal housing agency that will administer Help to Buy and manage the scheme's day-to-day legal and financial machinery. can run Help to BuyThe shared-equity home buying scheme the bill is setting up, where the Commonwealth helps eligible buyers purchase a home. under a separate legal set of functions, so the shared-equity home buying program is kept distinct from its other housing programs.
Existing Commonwealth laws left Housing AustraliaThe federal housing agency that will administer Help to Buy and manage the scheme's day-to-day legal and financial machinery. without the separate powers and financial treatment needed to run the new Help to BuyThe shared-equity home buying scheme the bill is setting up, where the Commonwealth helps eligible buyers purchase a home. shared equityA home ownership model where the Commonwealth takes a share in the property, which lowers the buyer's deposit and loan size. program. This bill amends those laws so Help to BuyThe shared-equity home buying scheme the bill is setting up, where the Commonwealth helps eligible buyers purchase a home. can operate under its own rules, administration and money flows.
Labor took Help to BuyThe shared-equity home buying scheme the bill is setting up, where the Commonwealth helps eligible buyers purchase a home. to the 2022 election as a shared-equity path into home ownership amid a long-running affordability challenge, but Housing AustraliaThe federal housing agency that will administer Help to Buy and manage the scheme's day-to-day legal and financial machinery.’s existing law did not give the agency the separate powers, directions and financial treatment needed to run the scheme. The government introduced this bill in late 2023 to carve Help to BuyThe shared-equity home buying scheme the bill is setting up, where the Commonwealth helps eligible buyers purchase a home. out from Housing AustraliaThe federal housing agency that will administer Help to Buy and manage the scheme's day-to-day legal and financial machinery.’s other programs, and after a delayed parliamentary path it passed in November 2024 and received Royal AssentThe final step that makes a bill an Act, which is when these legal changes formally take effect. in December 2024 so the program could operate under its own rules.
The main criticism was that Help to BuyThe shared-equity home buying scheme the bill is setting up, where the Commonwealth helps eligible buyers purchase a home. was being set up without enough detail or safeguards, leaving buyers uncertain about eligibility, operating rules and what happens if their circumstances change, including possible pressure to sell. That case was pushed mainly by Coalition speakers, while some crossbench concerns went more narrowly to stronger review, targets and limits on ministerial control rather than outright opposition.
Hon Julie Collins MP introduced this bill. It passed with support from Labor, Greens, Australia's Voice, some crossbench members; opposed by Liberal Party, Nationals, One Nation, UAP, some crossbench members.
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
Housing AustraliaThe federal housing agency that will administer Help to Buy and manage the scheme's day-to-day legal and financial machinery. can run Help to BuyThe shared-equity home buying scheme the bill is setting up, where the Commonwealth helps eligible buyers purchase a home. under a separate legal set of functions, so the shared-equity home buying program is kept distinct from its other housing programs.
Ministers cannot use the usual Housing AustraliaThe federal housing agency that will administer Help to Buy and manage the scheme's day-to-day legal and financial machinery. investment directions to control Help to BuyThe shared-equity home buying scheme the bill is setting up, where the Commonwealth helps eligible buyers purchase a home., because Help to BuyThe shared-equity home buying scheme the bill is setting up, where the Commonwealth helps eligible buyers purchase a home. must be directed through its own dedicated program rules.
Money Housing AustraliaThe federal housing agency that will administer Help to Buy and manage the scheme's day-to-day legal and financial machinery. gets back from Help to BuyThe shared-equity home buying scheme the bill is setting up, where the Commonwealth helps eligible buyers purchase a home. participants, including repayments and interest, is kept out of Housing AustraliaThe federal housing agency that will administer Help to Buy and manage the scheme's day-to-day legal and financial machinery.’s special account so it returns directly to the Commonwealth instead.
Help to BuyThe shared-equity home buying scheme the bill is setting up, where the Commonwealth helps eligible buyers purchase a home. risks and returns are separated from Housing AustraliaThe federal housing agency that will administer Help to Buy and manage the scheme's day-to-day legal and financial machinery.’s other business, so its usual reserve requirements and dividend profit calculations do not treat Help to BuyThe shared-equity home buying scheme the bill is setting up, where the Commonwealth helps eligible buyers purchase a home. the same way as its loan programs.
Housing AustraliaThe federal housing agency that will administer Help to Buy and manage the scheme's day-to-day legal and financial machinery. can delegate Help to BuyThe shared-equity home buying scheme the bill is setting up, where the Commonwealth helps eligible buyers purchase a home. work to a board member or the chief executive, which is meant to speed up day-to-day decisions and administration.
The Consequential Provisions Bill provides for the interaction between Housing Australia’s existing functions and powers in the Housing Australia Act and its new functions and powers provided for in the Bill to ensure that Help to Buy can be appropriately administered by Housing Australia.Help to Buy (Consequential Provisions) explanatory memorandum
The Minister can only give the Board directions about the Help to Buy functions under the Help to Buy Program Direction, as detailed in Part 3 of the Act.Help to Buy (Consequential Provisions) explanatory memorandum
An editorial update has been made to the Housing Australia Special Account to repeal paragraphs that are redundant as they refer to prior year credits, and to provide that amounts credited to the Special Account are repayments of money debited or other money lent by the Commonwealth to Housing Australia, which are made in accordance with the Housing Australia Investment Mandate. Amendments inserted to this section note that the payments made by Housing Australia to the Commonwealth are not credited to the Special Account. This includes any amounts that must be repaid as a result of Help to Buy arrangements and any interest received by Housing Australia as a result of undertaking Help to Buy functions.[Item 14, section 47B of the Housing Australia Act]Help to Buy (Consequential Provisions) explanatory memorandum
The Board must ensure, according to sound commercial principles, that the capital and reserves of Housing Australia at any time are sufficient to meet the likely liabilities of Housing Australia and to make adequate provision for default in the repayment of principal, or in the payment of interest or other charges, in connection with loans made by Housing Australia. To ensure the effective operation of Help to Buy, this requirement does not extend to liabilities or defaults under Help to Buy arrangements (within the meaning of the Act) which are subject to specific funding arrangements with the Commonwealth. [Item 15, subsection 48(4) of the Housing Australia Act]Help to Buy (Consequential Provisions) explanatory memorandum
Housing Australia is also empowered to delegate all or any of its functions under the Housing Australia Act or the Act, in writing under seal, to a Board member or to the CEO. This promotes the efficient operation of the Housing Australia Act and the Act and ensures timely administration of Housing Australia including its Help to Buy functions and functions other than Help to Buy.[Item 18, subsection 53(1) of the Housing Australia Act]Help to Buy (Consequential Provisions) explanatory memorandum
Context
Labor took Help to BuyThe shared-equity home buying scheme the bill is setting up, where the Commonwealth helps eligible buyers purchase a home. to the 2022 election as a shared-equity path into home ownership amid a long-running affordability challenge, but Housing AustraliaThe federal housing agency that will administer Help to Buy and manage the scheme's day-to-day legal and financial machinery.’s existing law did not give the agency the separate powers, directions and financial treatment needed to run the scheme. The government introduced this bill in late 2023 to carve Help to BuyThe shared-equity home buying scheme the bill is setting up, where the Commonwealth helps eligible buyers purchase a home. out from Housing AustraliaThe federal housing agency that will administer Help to Buy and manage the scheme's day-to-day legal and financial machinery.’s other programs, and after a delayed parliamentary path it passed in November 2024 and received Royal AssentThe final step that makes a bill an Act, which is when these legal changes formally take effect. in December 2024 so the program could operate under its own rules.
Labor takes Help to BuyThe shared-equity home buying scheme the bill is setting up, where the Commonwealth helps eligible buyers purchase a home. to the 2022 election
Speakers in the later parliamentary debate described Help to BuyThe shared-equity home buying scheme the bill is setting up, where the Commonwealth helps eligible buyers purchase a home. as a 2022 election commitment aimed at helping more Australians into home ownership.
Hansard ↗Government introduces the bill to set up Help to BuyThe shared-equity home buying scheme the bill is setting up, where the Commonwealth helps eligible buyers purchase a home.'s legal machinery
The minister said the bill would make consequential amendments so the new Help to BuyThe shared-equity home buying scheme the bill is setting up, where the Commonwealth helps eligible buyers purchase a home. scheme could work properly with the Housing Australia Act 2018The law that sets Housing Australia's powers and role, which this bill amends so Help to Buy can be run separately from other programs. and Housing AustraliaThe federal housing agency that will administer Help to Buy and manage the scheme's day-to-day legal and financial machinery.'s broader remit.
Hansard ↗Parliamentary debate ties the scheme to the housing affordability challenge
Members used the second reading debate to argue over the delayed start of the election promise and the wider difficulty many Australians faced getting into stable, affordable housing.
Hansard ↗Parliament passes the bill
Both houses finally passed the bill in the same form, clearing the way for Help to BuyThe shared-equity home buying scheme the bill is setting up, where the Commonwealth helps eligible buyers purchase a home. to be administered separately from Housing AustraliaThe federal housing agency that will administer Help to Buy and manage the scheme's day-to-day legal and financial machinery.'s other programs.
Parliamentary timeline ↗Help to BuyThe shared-equity home buying scheme the bill is setting up, where the Commonwealth helps eligible buyers purchase a home. consequential changes become law
Royal AssentThe final step that makes a bill an Act, which is when these legal changes formally take effect. turned the bill into an Act, completing the legal changes needed for the Help to BuyThe shared-equity home buying scheme the bill is setting up, where the Commonwealth helps eligible buyers purchase a home. program's distinct governance and money flows.
Parliamentary timeline ↗Legislative route
The bill was formally presented to the chamber and read a first time, which starts its parliamentary journey.
Introduced and read a first time
A minister or sponsoring member moved the second reading, opening the main debate on the bill's purpose and principles.
Second reading moved
Referred to Committee (30/11/2023): Senate Economics Legislation Committee; Committee report (18/04/2024)
Referred to committee
APH bill page notesThe bill reached this recorded parliamentary step.
The bill reached this recorded parliamentary step.
The bill reached this recorded parliamentary step.
The bill reached this recorded parliamentary step.
The chamber agreed to the bill at second reading, meaning it accepted the bill in principle and allowed it to continue.
Second reading agreed to
The chamber agreed to the bill at third reading, which completed passage through that chamber.
Third reading agreed to
The bill was formally presented to the chamber and read a first time, which starts its parliamentary journey.
Introduced and read a first time
A minister or sponsoring member moved the second reading, opening the main debate on the bill's purpose and principles.
Second reading moved
The bill reached this recorded parliamentary step.
The bill reached this recorded parliamentary step.
The bill reached this recorded parliamentary step.
Second reading amendment agreed to
A minister or sponsoring member moved the second reading, opening the main debate on the bill's purpose and principles.
Second reading moved
The bill reached this recorded parliamentary step.
The chamber agreed to the bill at second reading, meaning it accepted the bill in principle and allowed it to continue.
Second reading agreed to
The bill reached this recorded parliamentary step.
Recorded vote: 36 to 29.
The chamber agreed to the bill at third reading, which completed passage through that chamber.
Third reading agreed to
Both houses passed the bill in the same form, completing parliamentary passage.
Finally passed both Houses
The Governor-General gave Royal AssentThe final step that makes a bill an Act, which is when these legal changes formally take effect., turning the bill into an Act.
Key criticism
The main criticism was that Help to BuyThe shared-equity home buying scheme the bill is setting up, where the Commonwealth helps eligible buyers purchase a home. was being set up without enough detail or safeguards, leaving buyers uncertain about eligibility, operating rules and what happens if their circumstances change, including possible pressure to sell. That case was pushed mainly by Coalition speakers, while some crossbench concerns went more narrowly to stronger review, targets and limits on ministerial control rather than outright opposition.
Criticism centred more on design and implementation risk than on rejecting the goal of helping first-home buyers.
Too many key rules were left unclear
Opponents argued the scheme was being legislated before important details were settled, so buyers would not have enough certainty about eligibility, how the shared-equity model would operate, or what obligations they could face later.
The scheme was seen as limited and potentially risky for buyers
Critics said the policy would help only a relatively small number of people, would not increase housing supply, and could leave vulnerable participants stuck in an uncertain arrangement that does not make a meaningful dent in affordability.
Some senators wanted tighter review and fewer ministerial constraints
A separate, narrower concern was that the scheme needed stronger built-in accountability, including a sharper review, annual targets and clearer limits on directions that could restrict the program's duration or number of places.
Further sources
Votes
The chamber-passage votes come first. Expand a vote to see the party breakdown.
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 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.
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.
Earlier bill-stage votes
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.
Amendments grouped by chamber. These cards include amendment outcomes recorded without a counted division.
Senate
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.
This was a procedural vote, not a final vote on whether the bill would become law.
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 on voices
The chamber decided this amendment without a counted division, so there is no list of individual Aye and No votes.
This list includes amendment votes, procedural votes and votes on the bill itself.
Parliamentary debate
Start here — lead voices
Collins supports the bill, saying it makes the consequential changes needed to set up the Help to BuyThe shared-equity home buying scheme the bill is setting up, where the Commonwealth helps eligible buyers purchase a home. scheme and align it with the Housing Australia Act 2018The law that sets Housing Australia's powers and role, which this bill amends so Help to Buy can be run separately from other programs. and Housing AustraliaThe federal housing agency that will administer Help to Buy and manage the scheme's day-to-day legal and financial machinery.’s expanded role.
Read in Hansard ↗Sukkar says the coalition will oppose the bill because it is a late, half-finished shared-equity scheme that leaves key questions unanswered and could force buyers to sell if their circumstances change.
Read in Hansard ↗Chaney supports the bill, saying it will help a small number of targeted low- to middle-income buyers get into homeownership.
Read in Hansard ↗Tink says the bill is only a small, headline-driven step and does not amount to the broader housing reform Australia needs.
Read in Hansard ↗All speeches by bloc
33 speakers · 36 contributions · 33 support
“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 ↗
“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 ↗
“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.”Read the full speech in Hansard ↗
“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.”Read the full speech in Hansard ↗
“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 ↗
“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 ↗
“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 ↗
“This is an important scheme that will support up to 40,000 Australian households to purchase a home of their own. The Commonwealth will provide an equity contribution to eligible participants for up to 40 per cent of the purchase price for new homes and up to 30 per cent for existing homes.”Read the full speech in Hansard ↗
“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.”Read the full speech in Hansard ↗
“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.”Read the full speech in Hansard ↗
“After years of inaction in housing that has left the market almost impenetrable for many Australians, we will continue to look for new ways to legislate and to make entering the housing market more achievable for the average Australian. 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.”Read the full speech in Hansard ↗
“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.”Read the full speech in Hansard ↗
“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.”Read the full speech in Hansard ↗
“We need to make sure we all get on top of the Greens party and really make sure that they come to their senses, get on board with us and pass this bill. I'm sure the opposition would love to get on board and pass this bill as well, because I'm sure they're nice people on that side, too. I reckon we could all work together here with a bit of bipartisanship and make sure this bill passes through the House. We need to get it through us and get it through the upper house with no changes. It'd be lovely to see it get through.”Read the full speech in Hansard ↗
“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.”Read the full speech in Hansard ↗
“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.”Read the full speech in Hansard ↗
“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.”Read the full speech in Hansard ↗
“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.”Read the full speech in Hansard ↗
“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.”Read the full speech in Hansard ↗
“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.”Read the full speech in Hansard ↗
“I implore them to do the right thing and get behind this bill.”Read the full speech in Hansard ↗
“After a decade of little action, we have had enormous action, and it's clear that the Albanese government is working hard to turn around the housing challenges in Australia today. I commend this bill to the House.”Read the full speech in Hansard ↗
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 bill and says it should pass because it would help 40,000 low- and middle-income Australians buy homes with smaller deposits, lower mortgages and more affordable repayments. He criticises the Greens, the Coalition and others for playing politics at the expense of ordinary people who would miss out.
“I urge the Senate to support the bills.”Read this contribution in Hansard ↗
Second reading speech
Ayres supports the bill and says it is a significant step toward delivering Labor's shared-equity Help to BuyThe shared-equity home buying scheme the bill is setting up, where the Commonwealth helps eligible buyers purchase a home. scheme, which will help low- and middle-income Australians buy homes with a smaller deposit and lower mortgage payments. He presents it as part of a broader housing package that will make homeownership and secure housing more accessible.
“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. The Help to Buy scheme will be the first national shared-equity scheme of its kind. It will be delivered through Housing Australia, and it will help Australians to overcome the hurdles of saving for a deposit and servicing a mortgage.”Read this contribution in Hansard ↗
“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.”Read the full speech in Hansard ↗
“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.”Read the full speech in Hansard ↗
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 buying scheme the bill is setting up, where the Commonwealth helps eligible buyers purchase a home. policy and he says it will help 40,000 low- and middle-income households get into home ownership with smaller deposits and lower mortgages. He argues it is a practical response to the housing crisis and a life-changing way to make home ownership more reachable.
“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 says Labor supports the bill because it will help Australians get housing security and the chance to buy a home. He argues the Greens and coalition are wrong to oppose or criticise it, and says working and middle income families deserve this kind of help.
“I'm very pleased to rise to support the Help to Buy Bill 2023 and the related bill.”Read this contribution in Hansard ↗
“Today we are introducing legislation to make Help to Buy a reality.”Read the full speech in Hansard ↗
“We're developing a new National Housing and Homelessness Plan and a better deal for renters, which the states and territories have agreed to implement through this suite of measures and the bill I stand to support today. We're making a real difference for so many Australians looking to buy a home of their own. These reforms are about strengthening our housing market for local communities, local families and all people who want a roof over their head. They're about unlocking the door to homeownership for all Australians. Our government understands that, with national leadership, with cooperation with states, local government and industry and with the right housing policies, we can continue to make a real difference. I urge the Greens and the coalition to support this bill. Support hardworking Australians like Lily, and do the right thing. I commend this bill to the House.”Read the full speech in Hansard ↗
“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.”Read the full speech in Hansard ↗
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 bill and says it is a targeted, practical way to help low- and middle-income Australians buy their first home with a smaller deposit. He argues it will improve housing affordability without overheating the market and criticises the Greens and coalition for delaying or opposing it.
“The Labor government will not delay. We will act in the best interests of the Australian people because we are committed to a better future for all Australians, and giving them four walls and a roof is a big part of that. 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 Labor’s election commitment to help up to 40,000 Australians buy a home. He argues it is a practical housing affordability measure aimed at low and middle income earners, and rejects coalition criticism of the scheme.
“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.”Read this contribution in Hansard ↗
“The Help to Buy scheme is just one of the ways that our government, the Albanese government, will help tens of thousands of low- and middle-income earners be able to afford to buy a home.”Read the full speech in Hansard ↗
“This Bill makes consequential amendments to support the establishment of the Help to Buy scheme, to clarify how it interacts with the Housing Australia Act 2018 and to reflect the broader remit of Housing Australia.”Read the full speech in Hansard ↗
“This bill makes consequential amendments to support the establishment of the Help to Buy scheme, to clarify how it interacts with the Housing Australia Act 2018 and to reflect the broader remit of Housing Australia.”Read the full speech in Hansard ↗
35 speakers · 35 oppose
“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.”Read the full speech in Hansard ↗
“You can't just bring in a bill 18 months late with no answers, no clarity and no certainty for Australians. 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. The scheme is a waste of taxpayers' money, and the $5.5 billion would be better employed by the Commonwealth in driving housing supply and supporting first home buyers with more effective policies.”Read the full speech in Hansard ↗
“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.”Read the full speech in Hansard ↗
“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. When you talk about the minister, I really think that she has no idea what she's doing in this portfolio. When you speak about the HAFF, she doesn't even know how it was going to be invested. In giving more social housing to the states, how is she going to reduce the maintenance bill through the National Housing and Homelessness Agreement? For Queensland, where I come from, every dollar that we give is spent on maintenance, every year. There isn't one new social house; they spend all the money we give them on maintenance. What is the minister going to do about that? No idea. Labor's record has seen homelessness increase considerably. In the midst of a housing crisis, this underwhelming Help to Buy scheme is too little too late. The Australian dream is to own your own home, not one with the government. They don't want to own it with the government.”Read the full speech in Hansard ↗
“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.”Read the full speech in Hansard ↗
“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.”Read the full speech in Hansard ↗
“I think that government equity in people's home loans is not a good idea. I think that there are too many unanswered questions in the way this particular scheme is going to work, and I don't think it's a serious attempt to look at a big-picture vision of how we improve homeownership and population rebalance in our nation of Australia.”Read the full speech in Hansard ↗
“Where the current Labor government seeks to encroach on your liberty, your independence and your bank account, only a coalition government will genuinely support self-determination. 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.”Read the full speech in Hansard ↗
“This has been tried. This results in driving prices up, particularly for the most vulnerable. This is not about helping Australians one iota.”Read the full speech in Hansard ↗
“It's a bad bill that's not going to make a difference, but they didn't even live up to their promise to bring it in over 12 months ago.”Read the full speech in Hansard ↗
“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.”Read the full speech in Hansard ↗
“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.”Read the full speech in Hansard ↗
“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.”Read the full speech in Hansard ↗
“The coalition opposes this bill.”Read the full speech in Hansard ↗
“But what will happen to those who are in default under Labor's Help to Buy scheme and whose houses are deemed to be mortgagee in possession like those in the Keystart scheme? Do you know what that will be if you take it on? Who will the lenders be, and what arrangements will they have with the government and the homeowners themselves? How will the homeowners repay the loans? Can the owner refinance if they need to? None of it's explained in this bill. Will they lose their home? Given the state government owns 30 per cent of each of these homes and the federal government will as well, what happens next? What will happen to the people in these same circumstances under Labor's Help to Buy? At a state level, the government owns 30 per cent of that home. What happens when there is a decrease in value? At a federal level, it could be 30 or 40 per cent on an existing home. What happens if those housing prices fall, and you're behind on your mortgage payments? Will the government force you to sell your house for less than you paid for it? There's nothing in this bill explaining this or even who will be eligible. What's the criteria? What happens if your home is damaged or needs repairs? Who pays and when? Who bears the cost and the value of that? What happens if your income increases, you earn some more money and you're above the threshold, so you no longer qualify under the rules? What happens?”Read the full speech in Hansard ↗
“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.”Read the full speech in Hansard ↗
“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.”Read the full speech in Hansard ↗
“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.”Read the full speech in Hansard ↗
“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.”Read the full speech in Hansard ↗
“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.”Read the full speech in Hansard ↗
“But that's what we should be doing rather than this well-intentioned but half-baked and muddle-headed thinking about shared equity.”Read the full speech in Hansard ↗
“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.”Read the full speech in Hansard ↗
“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.”Read the full speech in Hansard ↗
“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.”Read the full speech in Hansard ↗
“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.”Read the full speech in Hansard ↗
“This bill is called the Help to Buy Bill, but the government, in introducing it today, are introducing it over 12 months later than they said that they would. The Minister for Housing, during the election campaign, said that this policy would be up and running by the beginning of 2023. There is a huge source of disappointment in relation to this bill, because, as the shadow minister so rightly pointed out in his speech, there are so many questions that are left unanswered about this bill. As a lawyer—taking my builder's hat off and putting my lawyer's hat on—I know people need certainty. If they are entering into an agreement with the government, they need to know the terms and conditions by which this agreement will operate. This bill provides no-one with any modicum of certainty which would enable them to make a decision to jump into a long-term arrangement with the government.”Read the full speech in Hansard ↗
“As a matter of fact, this bill should be taken away from this House, and the government should start again.”Read the full speech in Hansard ↗
“It would also be government. This goes to the core values and visions of the two governing parties of this country, and this bill should be opposed.”Read the full speech in Hansard ↗
“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.”Read the full speech in Hansard ↗
“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.”Read the full speech in Hansard ↗
“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.”Read the full speech in Hansard ↗
“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.”Read the full speech in Hansard ↗
“The idea that we've got to rush in here today, debate these bills and pass these bills in the next few days is a cruel hoax. 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.”Read the full speech in Hansard ↗
“Help to Buy is a small, niche program open to only 10,000 households each financial year, and it will cost the Commonwealth a disappointing $5.5 billion. Given that there are over 16,000 rental households in Bonner alone, this program does not serve the many more Aussies who want to buy.”Read the full speech in Hansard ↗
“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 ↗
12 speakers · 13 contributions · 9 oppose · 3 mixed
“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.”Read the full speech in Hansard ↗
“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.”Read the full speech in Hansard ↗
“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.”Read the full speech in Hansard ↗
“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.”Read the full speech in Hansard ↗
“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.”Read the full speech in Hansard ↗
“I can't sit here in this parliament, see Labor come and say, 'This is our answer to the housing crisis: a bill that's going to push up housing prices, leave 99.8 per cent of renters worse off and continue to give billions of dollars in handouts to wealthy property investors,' and back it.”Read the full speech in Hansard ↗
“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.”Read the full speech in Hansard ↗
“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.”Read the full speech in Hansard ↗
“I would love to be able to be in this place today talking about a bill, a piece of legislation, that would actually go to dealing with the issues that people are feeling—a bill that would actually deal with the cost of housing in this country and with offering some relief for the millions of Australian renters who can hardly pay the week-in, week-out rent, let alone save for a deposit for their own home. 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.”Read the full speech in Hansard ↗
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 bill, saying Labor's housing response is far too weak and that the Help to BuyThe shared-equity home buying scheme the bill is setting up, where the Commonwealth helps eligible buyers purchase a home. 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 bill and moves to postpone it, arguing it would help only a tiny share of renters while pushing up house prices and worsening affordability for everyone else. He says Labor should focus on real housing relief instead of a scheme that benefits property buyers at the expense of renters.
“What this bill is not going to do is solve the housing crisis. What this bill will do is exacerbate an element of the housing crisis. Even though it will provide marginal benefit to 0.2 per cent of Australian renters, it will make housing less affordable for the other 99.8 per cent.”Read this contribution in Hansard ↗
“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.”Read the full speech in Hansard ↗
“During times of crisis is when we expect our governments to step up, not tinker around with bandaid solutions that really do nothing and expect everyone to thank them for it. Australians deserve and need more than a housing lottery bill where 99.8 per cent of renters get nothing.”Read the full speech in Hansard ↗
2 speakers · 3 contributions · 2 oppose
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 opposes the bill, arguing it will push up house prices, create constitutional problems, and leave key risks and details unresolved. He says One Nation cannot support it unless its operation is clarified and housing supply and demand are addressed properly.
“In conclusion, the housing crisis—the housing catastrophe—continues to rage on and Australians are suffering. Unfortunately, the Albanese Labor government and the Greens are more interested in looking good rather than doing good. The Help to Buy Bill 2023 will not help Australians realise the great Australian dream of owning their own home. Labor's plan could end up with Australians being slaves to the government in their own home. 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 bill, saying it will not help the housing crisis and will instead push prices up by subsidising purchases. He also argues it is constitutionally flawed and too complex, and says the government is using it to look like it is acting rather than fixing the real housing shortages.
“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. The bill's core concept and premise is flawed and possibly a lie. We can't subsidise our way out of a house price problem. Subsidies always increase prices and have throughout history. Looking at the bill's details, or lack of details, the problem is worse. I'll look at some of the criteria in a minute.”Read this contribution in Hansard ↗
“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 ↗
10 speakers · 11 contributions · 4 support · 2 oppose · 4 mixed
“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. While I can acknowledge there is appetite for a scheme such as this and that this may be a small step towards helping more Australians into homeownership, we need much more ambitious reforms to address the fundamental and enduring housing problems that have been escalating in this country for decades. We need to move beyond headlines and towards true reform.”Read the full speech in Hansard ↗
“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.”Read the full speech in Hansard ↗
“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.”Read the full speech in Hansard ↗
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 says he backs the bill’s intent and believes it will help people who are locked out of home ownership, but he argues it needs major amendments to expand the scheme, extend it beyond four years and better target older women and First Nations people. His position is conditional on improving the bill rather than leaving it as drafted.
“Economists and experts are united in saying the impact of the bill on house prices will be negligible. That was pretty clear at the hearing. But the bill can be better, and I'll be moving a number of amendments, co-sponsored by crossbench colleagues, to do that.”Read this contribution in Hansard ↗
Second reading speech
Pocock supports the bill as a useful first step to help people without wealthy parents into home ownership, but says it needs amendments to better target disadvantaged groups, expand the scheme, and extend it beyond the forward estimates. He also argues the housing crisis needs broader reforms on supply, rental protections, tax settings and national planning.
“That is what the Help to Buy Bill 2023 is; it's a start. I back the intent of this bill because it will help people who don't have wealthy parents get into housing. 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. But the bill can be better, and I'll be moving amendments to reflect that.”Read this contribution in Hansard ↗
“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.”Read the full speech in Hansard ↗
“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.”Read the full speech in Hansard ↗
“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—”Read the full speech in Hansard ↗
“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.”Read the full speech in Hansard ↗
“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.”Read the full speech in Hansard ↗
“This won't be a silver bullet to fix everything. We know that the absolute best thing we can do is to build more houses—to build supply to keep up with demand. This will help 10,000 Australians. This will help 850 Tasmanians to achieve their dreams of owning their own house, and, in the words of Darryl Kerrigan, 'It's not just a house; it's a home.' Tasmanians, get your housing dreams in order. It's first in, first served, so make sure you don't miss the boat.”Read the full speech in Hansard ↗
Record
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.
House · Second reading moved
Second reading opened
A minister or sponsoring member moved the second reading, opening the main debate on the bill's purpose and principles.
House · Second reading debate
Second reading debate
The bill reached this recorded parliamentary step.
House · Second reading debate
Second reading debate
The bill reached this recorded parliamentary step.
House · Second reading debate
Second reading debate
The bill reached this recorded parliamentary step.
House · Second reading debate
Second reading debate
The bill reached this recorded parliamentary step.
House · Second reading agreed to
Second reading agreed
The chamber agreed to the bill at second reading, meaning it accepted the bill in principle and allowed it to continue.
House · Third reading agreed to
Third reading agreed
The chamber agreed to the bill at third reading, which completed passage through that chamber.
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.
Senate · Second reading moved
Second reading opened
A minister or sponsoring member moved the second reading, opening the main debate on the bill's purpose and principles.
Senate · Second reading debate
Second reading debate
The bill reached this recorded parliamentary step.
Senate · Second reading debate
Second reading debate
The bill reached this recorded parliamentary step.
Senate · Second reading amendment agreed to Details: Further consideration of bill postponed to 26 November 2024
Second reading debate
The bill reached this recorded parliamentary step.
Senate · Second reading moved
Second reading opened
A minister or sponsoring member moved the second reading, opening the main debate on the bill's purpose and principles.
Senate · Second reading debate
Second reading debate
The bill reached this recorded parliamentary step.
Senate · Second reading agreed to
Second reading agreed
The chamber agreed to the bill at second reading, meaning it accepted the bill in principle and allowed it to continue.
Senate · Committee of the Whole debate
Committee of the Whole debate
The bill reached this recorded parliamentary step.
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.
Parliament · Finally passed both Houses
Passed both houses
Both houses passed the bill in the same form, completing parliamentary passage.
Assent · Assent
Assent
The Governor-General gave Royal AssentThe final step that makes a bill an Act, which is when these legal changes formally take effect., 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
