Opposition Leader aims to build 500,000 new homes, focusing on essential infrastructure funding to ease the property market strain

Opposition Leader Peter Dutton has announced a bold new housing policy, pledging a $5 billion investment to expedite critical infrastructure projects necessary for building 500,000 new homes across Australia. Dutton has framed this initiative as a “game-changer for young Australians” struggling to enter the property market, promising that it will streamline access to essential services like water, sewerage, and power.

In a speech delivered at a greenfield housing site near Perth, Dutton highlighted the importance of resolving infrastructure delays that have plagued housing construction. He stated, “We need to ensure that homes can be built quickly, and this fund will facilitate that by addressing the bottlenecks caused by inadequate infrastructure development.”

This initiative is part of the Coalition’s broader strategy to increase housing supply, which includes proposed measures to cut immigration, limit international student numbers, and impose a two-year ban on foreign investors and temporary residents purchasing existing homes. The aim is to create more opportunities for Australians, particularly first-time buyers, to secure affordable housing.

The announcement comes in the wake of rising concerns regarding housing affordability, amplified by Prime Minister Anthony Albanese’s plans to purchase a $4.3 million property on the New South Wales Central Coast. This has reignited debate about the property market, with the Greens releasing an analysis suggesting that under previous Labor policies, more than 750,000 renters could have transitioned to homeownership by limiting negative gearing and halving capital gains tax concessions. However, the Albanese government quickly dismissed any plans to revisit these policies, maintaining its current course ahead of the next election.

Dutton’s approach has garnered support from key construction groups, including Master Builders Australia, which have emphasised the need to alleviate delays caused by infrastructure issues. “The industry has long recognised that these delays hold up construction, and Dutton’s plan addresses this concern head-on,” a spokesperson for Master Builders stated.

In his remarks, Dutton also asserted that the Coalition is not considering changes to negative gearing policies, echoing the government’s position that removing supply from the housing market would not benefit anyone. He underscored the importance of maintaining a focus on increasing housing availability through new developments rather than tightening existing regulations.

As the election approaches, housing affordability is set to remain a central issue, with both major parties vying to present their solutions to a growing crisis that affects many Australians. Dutton’s $5 billion plan aims to shift the narrative, offering a concrete proposal that seeks to alleviate some of the pressures facing young buyers in the current property market.