Dutton’s $5 Billion Big Build Pledge Sets up Housing Showdown

A Coalition government aims to make home ownership achievable for more Australians, according to Opposition Leader Peter Dutton. They pledge $5 billion to expedite building projects.

Dutton unveiled the Coalition’s Housing Infrastructure Program on Oct. 19, with the goal of accelerating the construction of up to half a million homes using grants and concessional loans.

If elected, the Coalition plans to provide temporary funding for water, power, and sewerage to advance the projects as part of their commitment.

“This is a game-changer for young Australians who currently don’t see the possibility of owning a home,” said Dutton during a media briefing in Perth.

While acknowledging that funding enabling infrastructure is not typically the federal government’s role, Dutton promised to compensate councils, utility companies, or developers to fast-track development, with the condition that the funds are utilized within a year.

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“Under the Albanese government, Australia is facing a housing crisis. The great Australian dream of home ownership has never felt further out of reach,” he remarked.

“We need to get our country back on track and reinstate the Australian dream of owning a home.”

However, Housing Minister Clare O’Neil expressed skepticism, stating that the promise did not make up for the Coalition’s proposed cuts to social and affordable housing expenditures.

“Peter Dutton is taking away with one hand and giving with the other. It’s a sleight of hand,” she informed the press.

The opposition also declared a freeze and review of the National Construction Code, citing that alterations to energy efficiency standards had inflated the cost of a new home by up to $60,000.

With pressure mounting to disclose more policies before the upcoming federal election, housing affordability and cost-of-living have been at the forefront of voters’ minds.

Master Builder Australia chief executive Denita Wawn endorsed the Coalition’s initiative, advocating for a reduction in bureaucratic obstacles.

“Putting a halt on unnecessary code modifications that escalate costs and complexity without meaningful enhancements in standards is a positive step,” Wawn stated.

“Shortages in labor, access to water, sewerage, power, and roads, union disruptions, and red tape all significantly impact the final project cost and completion time.”

The Business Council of Australia and the Urban Development Institute of Australia also supported the policy.

“This is a strategic policy that directly addresses the housing crisis, ensuring that there are essential infrastructure components like poles, pipes, wires, and roads for houses to be constructed,” said the institute’s President Col Dutton.

Labor has enacted a $10 billion fund for social and affordable housing, yet their proposal to assist lower-income Australians in purchasing 40,000 homes is currently stalled in the Senate.

Meanwhile, Prime Minister Anthony Albanese faced criticism for purchasing a $4.3 million luxury home for himself and his future wife Jodie Haydon.

During a press briefing on Wednesday, Albanese defended the purchase amid a cost-of-living crisis, stating, “I have been fortunate, but I also understand the struggle.”

“My mother lived in the same public housing unit where she was born for her entire 65 years,” he added.

“I know the hardships, which is why I want to assist all Australians in finding a home, whether through public housing, rental properties, or home ownership.”