Tuesday, 29 October 2024

Housing affordability

Aiv PUGLIELLI (North-Eastern Metropolitan) (22:13): (1212) My adjournment matter is for the Premier, and the action I seek is for Labor to invest in a public builder to deliver the homes we need. There are two truths we must face if we want to solve this housing crisis. Truth number one: people are struggling and need more homes near jobs and near transport, services, friends, family and their community – homes they can actually afford. If we want young people in homes – in long-term, secure accommodation that they can afford – house prices must come down. Truth number two: the people who have been given the task of providing these homes – the private market – will not do so unless house prices continue to rise. They have literally said so. Because why would a private business sacrifice their own profits when they do not have to? To a business, housing is a product. It is a market, and private businesses will not devalue their own product or cut their profit share just because they are feeling nice. Two truths: young people will not be able to afford homes if prices do not come down, and the private market ensures that house prices will just keep skyrocketing in an endless cycle. So what can we do? To me the answer is pretty simple: if the private market will not provide the housing we need, let us just do it ourselves, because we can do it and we have done it before. If we had a publicly owned builder, the government could build as many houses as we need, ensuring that homes are much more affordable and more accessible.

People need hope. People deserve hope. We cannot provide it until the government – the people in this place – who are tasked with providing basic needs for the people, accept the truth and say, ‘Fine. We’ll fix it ourselves. We need a public builder.’ We cannot sit here and pray that someone else will fix this housing crisis when we are in a room that can make this change right now. But Labor are praying this private market will fix the problem, even though they know it is illogical. If we want homes for young people that they can actually afford, we can do it ourselves. We can build affordable homes for renters and for people to purchase. Invest in a public builder and let us get building.