Labor’s big Australia worsening national housing crisis
According to new data released by the
Housing Industry Association today, the sales volumes of new homes across the
country have catastrophically dropped to even further lows, down by 8.1 per
cent for October.
This, coupled with
new house building approvals and starts dropping to decade lows, shows that
Australia’s housing crisis is set to worsen in 2024, not improve.
This is even further
proof that home ownership and the residential construction industry have never
been a priority for Labor.
The twelve interest
rate rises since Labor’s election have added an extra $24,000 per year to a
family with a $750,000 mortgage, yet this Government continues to remain silent
on its key promise to deliver ‘cheaper mortgages’.
And despite our
nation’s deepening housing crisis, Labor still plans to ensure record
population growth with an additional 1.5 million migrants arriving in Australia
over the next five years.
New data published
by the ABS this week also confirmed Australia is on track to accept more than
half a million migrants this year alone.
While so many
Australians struggle with acute housing shortages in both the rental and
purchasing space, things are only set to worsen as Labor’s Big Australia keeps
getting bigger.