QUESTIONS WITHOUT NOTICE
Ms O'NEIL (Hotham—Minister for Housing, Minister for Homelessness and Minister for Cities) (14:34): I actually really appreciate this question because it goes to the underlying reason why we have such chronic housing issues in our country, and that is that, for 40 years, our country has not been building enough homes. There's one thing I think I probably agree with the honourable member on, and that is that, if we want to fix the housing crisis, if we want to have more affordable housing for Australians, we've got to build, build, build.
That's going to improve the situation for everyone. We have a pro-supply government and we just delivered a pro-supply budget which will build an additional 30,000 homes for the country. Speaker, I might just refresh your memory and the memory of the parliament about why it was a pro-supply budget.
Two simple reasons—first, remember that we've made tax changes in the budget, but new builds continue to get access to those very beneficial tax treatments; and, second, of course, there were really important supply initiatives in that budget. I want to speak just quickly to Budget Paper No. 1, which goes through the impacts of the budget changes. That paper says: Driven by reforms and investments that reduce barriers to housing supply, this budget will support up to an additional 30,000 homes over the next decade— The SPEAKER: The minister will pause.
The minister is directly answering about the numbers in the question and where the people will live. She was asked specifically, 'Where will Australians live if the Albanese Labor government keep sending builders broke?' She's answering that with a direct budget reply about where people will live. I think it's going to be very difficult to take a point of order on relevance.
Mr Tehan: The question was about the Housing Industry Australia report that was released— The SPEAKER: No, it wasn't. Resume your seat. That was part of the question.
That wasn't the question. The question was as I just stated to the House: 'Where will Australians live if the Albanese Labor government keeps sending builders broke?' The minister was in a direct sentence about the numbers of where people will live, so you couldn't be more directly relevant. I know there are other parts of the question, but you can't pick and choose what you like and what you don't like, and I can't pick and choose what the minister can and can't say.
I can only make the point to the House that anyone who's listening knows she's being directly relevant. In fact, she's directly answering the question, which always helps my job. So, Minister, please continue.
Ms O'NEIL: Anything to make it easier for you, Speaker. Again, I just reiterate to the House—I'm actually literally quoting from the federal budget, which was what the question was about: … this budget will support up to an additional 30,000 homes over the next decade, and more, as the benefit of productivity enhancing reforms flow through to the housing market.
For honourable members opposite me, who are evidently incredibly confused about this, I'd encourage them to come and have a look at the budget documents themselves. I want to talk to them about some of the recent economic data that we have about new builds. Now, listen to this one: The ABS lending indicators— Opposition members interjecting— The SPEAKER: Order, members on my left!
I'm not putting up with this. The minister is giving information and facts and figures to the House about the question she was asked. I'm asking everyone to show respect and to listen to the minister.
Ms O'NEIL: It says: The ABS lending indicators for the June quarter show that the number and value of new investor loans is the highest since records began. They show a 27.5 per cent increase on investor loans for new builds and a 20 per cent increase on construction loans. I mean, honestly!
We have got approvals data that's up 9.1 per cent on last year, the third year in a row that we have seen this increase. Those opposite like to come in and talk a big game. I want to remind them that approvals were falling 21 per cent when they left office.
They were presiding over a 50-year high in the increase of construction costs that we have brought down to 3.8 per cent. This is a good indicator for the parliament about where the politics of housing are at. Those opposite are constantly coming in here and defending a broken housing market.
We are for change and we're not afraid to say it. The Australian people want us to reform Australia's housing system, and that is exactly what our government is doing.