Albanese defends housing reforms: they make the system fairer for young people
Australian Prime Minister Anthony Albanese has defended the government's housing reforms, arguing they make the system fairer for young people, while noting that house prices have risen 400% since 1999 – double wages.
Australian Prime Minister Anthony Albanese defended the government's housing reforms on ABC's 7.30 program on Monday evening, saying they make the system fairer for young people and that he does not want to live in a society defined by intergenerational inequity.
Albanese addressed data showing clearance rates fell below 50% in most major capital cities after the reforms were enacted. He pushed back against criticism that a post-budget fall in house prices was evidence of a wrong policy path.
The prime minister reiterated that the housing system is "broken" and cited treasury estimates that house prices will continue to increase, but at a slower rate. Major banks have said prices will remain flat or marginally fall through 2026.
Albanese noted that house prices have risen 400% since 1999 – more than double wages – and that homeownership rates have dropped for younger Australians. He argued that inaction was not an option.
He also praised actor Paul Hogan for pushing back against Pauline Hanson's attack on multiculturalism, saying Hogan "nailed it."
