This bill did not become law and is no longer proceeding.
Budget, tax & economy
Housing AustraliaThe Commonwealth housing agency that would run the program and hold the rules, money and board arrangements for it.’s existing board, staff and management rules would be updated so the agency could run Help to BuyThe shared equity home-buying program this bill helps set up, where the Commonwealth takes part ownership to lower the upfront cost for eligible buyers. alongside its other housing programs.
The new Help to BuyThe shared equity home-buying program this bill helps set up, where the Commonwealth takes part ownership to lower the upfront cost for eligible buyers. program exposed a gap: existing CommonwealthThe federal government, which would fund the scheme and receive back the Commonwealth equity share when a Help to Buy arrangement ends. housing laws did not let Housing AustraliaThe Commonwealth housing agency that would run the program and hold the rules, money and board arrangements for it. run the scheme cleanly within its current governance and finances. This bill updates those laws so Housing AustraliaThe Commonwealth housing agency that would run the program and hold the rules, money and board arrangements for it. can administer Help to BuyThe shared equity home-buying program this bill helps set up, where the Commonwealth takes part ownership to lower the upfront cost for eligible buyers., with separate directions and a rule that Help to BuyThe shared equity home-buying program this bill helps set up, where the Commonwealth takes part ownership to lower the upfront cost for eligible buyers. repayments and related interest paid back to the CommonwealthThe federal government, which would fund the scheme and receive back the Commonwealth equity share when a Help to Buy arrangement ends. are not credited to the Housing Australia Special AccountHousing Australia’s existing special account. The explanatory memorandum says Help to Buy repayments and related interest paid back to the Commonwealth are not credited to this account..
Labor took Help to BuyThe shared equity home-buying program this bill helps set up, where the Commonwealth takes part ownership to lower the upfront cost for eligible buyers. to the 2022 election and then announced it in the October 2022 budget as a national shared-equity scheme, while parliamentary debate in early 2024 repeatedly tied the policy to sharply worsening housing affordability, high rents and first-home buyers struggling to save deposits. As the scheme was developed, the government said existing Housing AustraliaThe Commonwealth housing agency that would run the program and hold the rules, money and board arrangements for it. law did not cleanly cover its governance and finances, so this bill was introduced in October 2024 to let the agency administer Help to BuyThe shared equity home-buying program this bill helps set up, where the Commonwealth takes part ownership to lower the upfront cost for eligible buyers. separately, but it lapsed when Parliament was dissolved in March 2025.
The main criticism was that Help to BuyThe shared equity home-buying program this bill helps set up, where the Commonwealth takes part ownership to lower the upfront cost for eligible buyers. was a poorly defined shared-equity scheme that left key rules unresolved, so buyers could face uncertainty about eligibility, repayments, changing incomes and even being forced to sell later. These concerns were raised mainly by Coalition speakers, while the Greens' criticism was narrower and focused on the scheme being too small and not addressing the wider housing shortage.
Hon Clare O'Neil MPMember of Parliament, the title used for a federal parliamentarian speaking on the bill. introduced this bill. Speeches supporting it came from Labor, Centre Alliance, some crossbench members.
Did it become law?
No
The bill did not complete passage through Parliament.
Final passage
No final passage
The bill has not completed passage and is no longer proceeding.
Time before failure
170 days
From introduction to the final recorded step before the bill stopped proceeding
Meaning
Housing AustraliaThe Commonwealth housing agency that would run the program and hold the rules, money and board arrangements for it.’s existing board, staff and management rules would be updated so the agency could run Help to BuyThe shared equity home-buying program this bill helps set up, where the Commonwealth takes part ownership to lower the upfront cost for eligible buyers. alongside its other housing programs.
Ministerial directions for Help to BuyThe shared equity home-buying program this bill helps set up, where the Commonwealth takes part ownership to lower the upfront cost for eligible buyers. would have to be given through separate Help to BuyThe shared equity home-buying program this bill helps set up, where the Commonwealth takes part ownership to lower the upfront cost for eligible buyers. rules, not through the broader Housing Australia investment mandateThe broader set of directions that normally tells Housing Australia how to invest and operate; this bill keeps Help to Buy directions separate from it. used for other programs.
Amounts Housing AustraliaThe Commonwealth housing agency that would run the program and hold the rules, money and board arrangements for it. pays back to the CommonwealthThe federal government, which would fund the scheme and receive back the Commonwealth equity share when a Help to Buy arrangement ends. from Help to BuyThe shared equity home-buying program this bill helps set up, where the Commonwealth takes part ownership to lower the upfront cost for eligible buyers., including repayments and interest, would not be credited to the Housing Australia Special AccountHousing Australia’s existing special account. The explanatory memorandum says Help to Buy repayments and related interest paid back to the Commonwealth are not credited to this account..
Housing AustraliaThe Commonwealth housing agency that would run the program and hold the rules, money and board arrangements for it.’s profits or losses from Help to BuyThe shared equity home-buying program this bill helps set up, where the Commonwealth takes part ownership to lower the upfront cost for eligible buyers. would be excluded when working out dividends, keeping the new home-buying program financially separate from its other business.
These consequential changes would only start if the main Help to BuyThe shared equity home-buying program this bill helps set up, where the Commonwealth takes part ownership to lower the upfront cost for eligible buyers. law started, so they would not operate on their own.
The Consequential Provisions Bill makes a number of consequential amendments to the Housing Australia Act relating to Housing Australia’s general structure and administration that have incidental or ancillary impact on Housing Australia’s performance of its Help to Buy functions. The amendments to the Housing Australia Act clarify how the existing Board, staffing and other administrative arrangements in that Act interact with the new function provided to Housing Australia to administer Help to Buy under the Bill.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. Accordingly, the Minister cannot give the Board directions on these functions under subsection 12(1) of the Housing Australia Act (directions which comprise the Housing Australia Investment Mandate). This distinction makes clear that the Program Directions are the vehicle for the Government to set out its expectations for Help to Buy and direct Housing Australia on the performance of the Help to Buy functions. Comparatively, the Housing Australia Investment Mandate is the vehicle for the Government to set out its expectations for functions other than Help to Buy functions and direct Housing Australia on the performance of Housing Australia’s functions other than the Help to Buy functions. Minor editorial amendments are also made to account for added Notes and subsections. [Items 8 to 11, sections 12 and 14 of the Housing Australia Act]Help to Buy (Consequential Provisions) explanatory memorandum
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
Housing Australia’s dividends for a financial year must not exceeds its profits for the same year. To recognise the separation in functions between Help to Buy and Housing Australia’s existing housing functions, any profit or loss in relation to Help to Buy should be disregarded when determining the profit for the purposes of this provision.[Item 16, subsection 49(4A) of the Housing Australia Act]Help to Buy (Consequential Provisions) explanatory memorandum
The amendments in the Consequential Provisions Bill commence at the same time the Bill commences, but do not commence at all if the Bill does not commence.Help to Buy (Consequential Provisions) explanatory memorandum
Context
Labor took Help to BuyThe shared equity home-buying program this bill helps set up, where the Commonwealth takes part ownership to lower the upfront cost for eligible buyers. to the 2022 election and then announced it in the October 2022 budget as a national shared-equity scheme, while parliamentary debate in early 2024 repeatedly tied the policy to sharply worsening housing affordability, high rents and first-home buyers struggling to save deposits. As the scheme was developed, the government said existing Housing AustraliaThe Commonwealth housing agency that would run the program and hold the rules, money and board arrangements for it. law did not cleanly cover its governance and finances, so this bill was introduced in October 2024 to let the agency administer Help to BuyThe shared equity home-buying program this bill helps set up, where the Commonwealth takes part ownership to lower the upfront cost for eligible buyers. separately, but it lapsed when Parliament was dissolved in March 2025.
Labor takes Help to BuyThe shared equity home-buying program this bill helps set up, where the Commonwealth takes part ownership to lower the upfront cost for eligible buyers. to the election
Government speakers later described Help to BuyThe shared equity home-buying program this bill helps set up, where the Commonwealth takes part ownership to lower the upfront cost for eligible buyers. as a key 2022 election commitment to help low and middle income households into home ownership.
Hansard ↗October budget announces Help to BuyThe shared equity home-buying program this bill helps set up, where the Commonwealth takes part ownership to lower the upfront cost for eligible buyers.
The explanatory memorandumThe background document that explains what the bill does, how it works and why it was introduced. says Help to BuyThe shared equity home-buying program this bill helps set up, where the Commonwealth takes part ownership to lower the upfront cost for eligible buyers. was announced in the 2022-23 October Budget as part of the Safer and More Affordable Housing measure.
Help to Buy (Consequential Provisions) explanatory memorandum ↗Housing affordability pressures dominate debate on the scheme
Second reading speeches described a housing crisis marked by rising prices, high rents and buyers needing far longer to save a deposit, framing Help to BuyThe shared equity home-buying program this bill helps set up, where the Commonwealth takes part ownership to lower the upfront cost for eligible buyers. as the response.
Hansard ↗Consequential bill introduced for Housing AustraliaThe Commonwealth housing agency that would run the program and hold the rules, money and board arrangements for it. to run Help to BuyThe shared equity home-buying program this bill helps set up, where the Commonwealth takes part ownership to lower the upfront cost for eligible buyers.
The minister said the bill would make consequential amendments so Help to BuyThe shared equity home-buying program this bill helps set up, where the Commonwealth takes part ownership to lower the upfront cost for eligible buyers. could operate through Housing AustraliaThe Commonwealth housing agency that would run the program and hold the rules, money and board arrangements for it. with its own legal and financial treatment.
Hansard ↗Bill lapses when Parliament is dissolved
The parliamentary timeline records that the bill lapsed at dissolution, so the supporting changes for Housing AustraliaThe Commonwealth housing agency that would run the program and hold the rules, money and board arrangements for it.'s governance and accounts did not pass at that point.
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
The bill reached this recorded parliamentary step.
Key criticism
The main criticism was that Help to BuyThe shared equity home-buying program this bill helps set up, where the Commonwealth takes part ownership to lower the upfront cost for eligible buyers. was a poorly defined shared-equity scheme that left key rules unresolved, so buyers could face uncertainty about eligibility, repayments, changing incomes and even being forced to sell later. These concerns were raised mainly by Coalition speakers, while the Greens' criticism was narrower and focused on the scheme being too small and not addressing the wider housing shortage.
Criticism was real but split between design risks and doubts about whether the scheme was big enough to matter.
Key rules left unclear
Critics argued Parliament was being asked to approve the scheme before important practical rules were clear, including who qualifies, how repayments work, what happens if incomes change, and other operating details buyers would need to judge the risks.
Risk for participants if circumstances change
Opponents said the shared-equity design could create problems later if a participant's circumstances changed, including concern that some people might be pushed into selling or face difficult repayment outcomes they could not properly assess upfront.
Too small to fix the housing crisis
Another criticism was that the program would help only a limited number of buyers and would not tackle the deeper causes of unaffordable housing, especially weak supply and broader market pressures. Critics said public spending should go to larger structural housing measures instead.
Further sources
Votes
No recorded votes were found before this bill stopped proceeding.
Parliamentary debate
Start here — lead voices
O'Neil supports the bill, saying it makes the consequential amendments needed to establish the Help to BuyThe shared equity home-buying program this bill helps set up, where the Commonwealth takes part ownership to lower the upfront cost for eligible buyers. scheme, clarify its interaction with the Housing AustraliaThe Commonwealth housing agency that would run the program and hold the rules, money and board arrangements for it. Act 2018 and reflect Housing AustraliaThe Commonwealth housing agency that would run the program and hold the rules, money and board arrangements for it.'s broader remit.
Read in Hansard ↗Sukkar says the opposition will not support the bill, arguing that it is a late and poorly worked-through shared-equity scheme that leaves key questions unanswered and could force people to sell if their circumstances change.
Read in Hansard ↗Chaney says she will support the bill because it will give relief to a small number of targeted low- to middle-income homebuyers.
Read in Hansard ↗Tink says the bill is only a small, short-term housing measure and not the long-term reform Australia needs, especially because key program settings are left too opaque.
Read in Hansard ↗All speeches by bloc
32 speakers · 35 contributions · 32 support
“This is fundamentally not acceptable. That's why we're passing this bill in this place. I would call on those who are seeking to oppose it or who have said that they would oppose it to think of those people for whom this would make a difference in their lives.”Read the full speech in Hansard ↗
“So the only policy we have from those opposite, who are voting against the government's action on housing, is to let young people raid their own retirement settings, which, as the Grattan Institute said, would do little if anything to increase homeownership rates. 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. 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 ↗
“There is an opportunity to make more progress on housing here in our chamber today. I commend this bill to the Senate. I implore my colleagues to reflect deeply on this and support our bill.”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 ↗
“What we see with this bill is that we are putting another important component in place of our overarching response to the housing affordability challenge. As I said earlier, this is an important piece because it deals with that cohort of people who are finding it a struggle to pull together the deposit, and that is a material issue for many households. So this is an important additional component to what's already a very comprehensive set of packages that this government has put in place—many of which have come through this place and, as I alluded to, many of which have been opposed by those opposite.”Read the full speech in Hansard ↗
“Thankfully, we have a government willing to take up the fight when it comes to housing affordability. We've got proposals on the table and an ambitious plan to build more houses all across Australia. I've stepped foot in the houses that our regional homebuyers grants have built. I look forward to seeing more houses built in regional Australia. We are getting on with the job of building houses for Australians. It's something that we committed to when we came to government. 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 ↗
“So, again, for 40,000 people, this Help to Buy scheme will be life changing.”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 ↗
“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 ↗
“I commend this bill to the House and I look forward to seeing what the Greens have to say in response.”Read the full speech in Hansard ↗
“Delivering on Help to Buy, alongside all our other housing commitments, is part of that commitment to the Australian people. It's what drives our government every day. Our ambitious housing reform plan is working, and you should support it.”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.”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 commend the bill to the House.”Read the full speech in Hansard ↗
“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.”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
Ayres strongly աջակցs the bill, saying the consequential amendments are needed so Housing AustraliaThe Commonwealth housing agency that would run the program and hold the rules, money and board arrangements for it. can administer Help to BuyThe shared equity home-buying program this bill helps set up, where the Commonwealth takes part ownership to lower the upfront cost for eligible buyers. and so CommonwealthThe federal government, which would fund the scheme and receive back the Commonwealth equity share when a Help to Buy arrangement ends., state and territory laws can operate together. He argues the measure is a practical part of a wider housing agenda that will help low- and middle-income Australians buy homes.
“A set of consequential amendments sit with the bill, which will provide Housing Australia with the powers to administer the Help to Buy scheme on behalf of the Commonwealth. Something was made of this during the debate about what those amendments mean. They would mean they seek to support the concurrent operation of Commonwealth and state and territory laws. They will enable the states to preserve the operation of their laws while also providing key protections for the Commonwealth to ensure the effective operation of Help to Buy.”Read this contribution in Hansard ↗
Second reading speech
Ayres supports the bill and presents it as a key step in delivering Labor's national shared-equity housing promise. He argues it will help low- and middle-income Australians buy homes by lowering deposits and mortgage costs through Housing AustraliaThe Commonwealth housing agency that would run the program and hold the rules, money and board arrangements for it..
“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
Neumann strongly supports the bill, saying it gives effect to Labor's Help to BuyThe shared equity home-buying program this bill helps set up, where the Commonwealth takes part ownership to lower the upfront cost for eligible buyers. policy and will help 40,000 low- and middle-income households get into home ownership with smaller deposits and mortgages. He argues it is part of a broader housing agenda to lift supply and ease affordability pressures.
“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 bill and says it is an important part of Labor's housing agenda. He argues it will help working and middle-income families get housing security and a chance to buy a home, while criticising the opposition and the Greens for not backing practical housing measures.
“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. Those opposite say they support making sure we address housing needs, but they voted against the Housing Australia Future Fund. When we introduced that legislation last year, they teamed up with the Greens in the Senate to delay the reporting date. They now have the chutzpah and gall to criticise us on the legislation being debated today, when they voted with the Greens over there to delay similar legislation. Honestly, don't come in here and give us this criticism.”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 strongly supports the bill, arguing it is a targeted and practical part of Labor's housing plan that will help low- and middle-income Australians into first homes with a low deposit and shared equityA buying model where the government pays part of the purchase price and keeps an ownership share until the home is sold or the share is bought back.. He criticises the Greens and coalition for delaying reform and says the bill should pass so more people can access housing sooner.
“If this bill is delayed in the Senate because the Greens political party wants to pay politics, that will only make the situation worse. Delays mean fewer people building their first home. Delays mean more pressure on the rental market and, consequently, rents increasing above market. Delays mean a worse outcome for the Australian people. 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 the Albanese government's election promise to help up to 40,000 Australians buy a home. He argues it is a practical housing affordability measure for 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. Under a shared equity scheme like this, the homebuyer shares the capital cost of purchasing a home with an equity partner, sharing the financial risks and benefits of that investment.”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 ↗
34 speakers · 34 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 ↗
“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.”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 ↗
“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 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.”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 ↗
“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.”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 ↗
“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.”Read the full speech in Hansard ↗
“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.”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.”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 ↗
“Unfortunately, it will be another lame duck scheme that will attract very little interest. Why do I say that? I'm not trying to be pessimistic; I'm just trying to be realistic. There are multiple shared equity schemes already that the states run, quite appropriately, because under the Constitution the states have the head of powers and the responsibility for public housing and for housing regulation.”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.”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 was only a few weeks ago that I had my last road trip around my own electorate of Fairfax, and I spoke to a young couple, both of whom were working full-time, rarely finding time to get together because they were working so hard to buy a property. When I put to them the general thrust of what Labor's proposing today, they initially got excited, until they realised that it might end up with the government owning such a large part of their home. The male in that relationship is a builder, and they intend to upgrade whatever property they buy. If they were to be recipients of the scheme put forward and they did upgrade such a home, who would be the recipient of the additional equity created in that property? Would it just be them, or would it also be government? 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. The Albanese government must recognise the gravity of the issues at hand and invest the necessary time and effort to address them thoroughly. The Australian people deserve a housing policy that is not only well intentioned but also well implemented. The uncertainty surrounding the Help to Buy scheme demands urgent attention, and it is crucial that the government provides comprehensive answers to the myriad questions posed today.”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 ↗
“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. It is an important aspiration. It is securing the future of the next generations, and they need to be able to do that.”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 ↗
“Unfortunately, in the midst of a housing crisis, the underwhelming Help to Buy scheme is too little too late.”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 · 8 oppose · 4 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 ↗
“From the moment the bill was introduced, the Greens have been willing to pass the bill if the government negotiated with us on negative gearing and the capital gains discount. Those tax handouts collectively push up the price of housing, which disadvantages renters at auctions.”Read the full speech in Hansard ↗
“Let's be very clear: this bill and Labor's Help to Buy scheme in its current form will see the housing crisis get worse. We cannot fix the housing crisis by pushing up housing prices and making it harder for 99.8 per cent of renters to buy a home.”Read the full speech in Hansard ↗
“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. We've asked, in our negotiations, for them to take action on freezing and capping rents, to end tax handouts for property investors that stop renters buying their first home and to establish a government owned property developer which would build 610,000 houses to be sold at just above the cost of construction and with rents capped at 25 per cent of income.”Read the full speech in Hansard ↗
“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.”Read the full speech in Hansard ↗
“Help to Buy as it stands doesn't deal adequately with the underlying causes of the housing affordability crisis in this country. It is set to only look at a small fraction of the community at a time when we are facing one of the biggest, most widespread and entrenched problems of this generation.”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 ↗
“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 ↗
“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.”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 ↗
“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 ↗
“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 the full speech in Hansard ↗
1 speaker · 1 oppose
“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 ↗
9 speakers · 6 support · 2 oppose · 1 mixed
“After many decades of neglect, this sort of short-term relief does not provide what we ultimately need, which is longer-term, real reform. The fact that many of the key components of the Help to Buy scheme are found only in the explanatory memorandum, with the program details to be set in non-disallowable program directions rather than in primary legislation, is particularly concerning for me.”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 ↗
“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 the full speech 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 ↗
“I appreciate the government's incentive to reduce the burden and relieve the financial stress for homebuyers to purchase their dream home. However, we are still faced with the issue of limited spots for the scheme, thus the housing crisis and supply crisis will continue. Let's move beyond the headline-grabbing policies into real policies to show that this government is connected with working Australians and understands the crippling challenge that the majority are facing with the cost-of-living and housing crisis.”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 ↗
“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 ↗
“Either way, I am putting up my hand to say this bill is part of the solution we need to start making a dent in the housing crisis.”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 · Lapsed at dissolution
Lapsed at dissolution
The bill reached this recorded parliamentary step.
