Housing & Homelessness

At a time when so many people are struggling to find decent, affordable housing, we can't just leave the housing market in the hands of private developers who prioritise profits over people. 

The Greens’ plan will create a public developer that builds good-quality homes for people to rent and buy at genuinely affordable prices.

The Greens' plan:

• Deliver 610,000 affordable homes over the next decade by establishing a federally owned public property developer to rent and sell homes below market prices.
• Provide 70% of the homes as rentals capped at 25% of household income or 70% of market rent, whichever is lower, saving renters up to $16,600 annually.
• Sell 30% of the homes at just over the cost of construction, allowing first-home buyers to save up to $249,000 compared to private market prices.
• Prioritise local connections by allocating homes to families with ties to the area, key service workers, and First Nations community members.

At a time when so many people are doing it tough, struggling with skyrocketing rents, substandard living conditions, and the constant threat of eviction, we need a system that actually supports renters.

The Greens' plan will ensure that everyone, including renters and first-time home buyers, can afford a secure, stable home. 

By establishing a National Renters Protection Authority and freezing and limiting rent increases, renters will finally have the protections and peace of mind they deserve.

The Greens' plan:

• Ensure renters' rights are upheld and bad landlords are held accountable by establishing a National Renters Protection Authority with powers to investigate breaches, issue fines, and advocate for tenants.
• Make unlimited rent increases illegal, by freezing rents for two years then capping rent increases long term at 2% every 2 years, saving renters thousands each year
• Provide stable, affordable, and secure long-term housing for renters by guaranteeing lease renewals, improving housing quality standards, and expanding public housing 

Homes should be safe places for everyone to live, not just a money-making exercise for wealthy investors.

However, enormous tax handouts, such as negative gearing and the capital gains tax discount are turbo-charging the housing crisis. They put billions in the pockets of big property investors, making it easier for investors to outbid first home buyers, and drive up house prices and saddling mortgage holders with more debt.

By phasing out the tax handouts for wealthy property investors with more than one investment property, we can make home ownership more accessible to hundreds of thousands more renters, and invest the tax savings into building hundreds of thousands of good-quality public homes

The Greens' plan:

• Scrap negative gearing: Remove the negative gearing tax break that makes it more expensive for owner-occupiers to buy a home.  This tax concession allows investors to deduct the costs of running a rental property—including interest on their mortgage—against their other income.
• Scrap the 50% capital gains tax discount: Wind back the tax break for landlords that makes it harder for renters and first home buyers to purchase a home as owner-occupiers. This tax handout gives property investors a 50% tax discount on profits they make when selling rental properties. The asset base for non-housing assets would be indexed by inflation.
• People will be able to keep their existing negative gearing and capital gains tax benefits for one investment property they already own (purchased before the policy commences).

While millions struggle with skyrocketing mortgage repayments, the big banks are raking in billions in profits. The Greens are focused on reining in the banks’ power and ensuring homebuyers and mortgage holders get a fair go.

Our plan will hold big banks accountable and provide relief to mortgage holders and first home buyers, ensuring the housing system works for people, not corporate profits.

The Greens' plan:

• Lower mortgage costs by legislating a HomeKeeper mortgage product with a regulatory ceiling 1% above the cash rate to prevent banks from overcharging.
• Deliver real savings for homeowners, with a HomeKeeper loan saving the average mortgage holder up to $357 per month or $4,284 annually.
• Empower regulators by giving the Australian Competition and Consumer Commission (ACCC) and the Australian Prudential Regulation Authority (APRA) the authority to block banks from imposing unnecessary mortgage price increases.
• Ensure fairness by requiring banks to seek approval from both regulators before charging interest rates above the regulatory ceiling.
• Support smaller banks with a wholesale funding guarantee, enabling them to compete with major banks by borrowing at equivalent costs.