{"id":70918,"date":"2026-08-13T05:24:40","date_gmt":"2026-08-13T05:24:40","guid":{"rendered":"https:\/\/www.europesays.com\/australia\/70918\/"},"modified":"2026-08-13T05:24:40","modified_gmt":"2026-08-13T05:24:40","slug":"landlord-welfare-albanese-backs-house-price-falls-with-choice-words","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/australia\/70918\/","title":{"rendered":"‘Landlord welfare’: Albanese backs house price falls with choice words"},"content":{"rendered":"\n

The prime minister has invoked the words of popular finance writer Scott Pape<\/a> on the floor of Parliament after being accused by his opponents of “tanking” the housing market with tax changes<\/a>. If Anthony Albanese is concerned about new projections of price falls of nearly 15 per cent in his home city, he didn’t show it. <\/p>\n

“It is true that we had measures that were aimed at addressing the challenges that are facing young Australians when it comes to owning a house,” the PM said. Before parroting the Barefoot Investor’s claim that the previous rules amounted to “taxpayer-funded landlord welfare”. <\/p>\n

“I note that Scott Pape, the Barefoot Investor, someone who’s well known, not always part of a cheer squad for the government, wrote in The Herald Sun: ‘Average house prices have increased by more than 400 per cent since 2000, partly on the back of taxpayer-funded landlord welfare’,” Albanese said. <\/p>\n

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In his opinion piece this week, Pape argued the country was facing the house price correction “we have needed for 20 years”. <\/p>\n

“Somewhere along the way we started treating houses like a share price. Something to check, brag about, and borrow against. We forgot what they’re actually for,” he wrote. <\/p>\n

“A house is for living in.” <\/p>\n

After handing down a interest rate hold on Tuesday afternoon<\/a>, the RBA’s accompanying Monetary Policy Statement included expectations of further price falls, noting the impact of the tax changes, while Governor Michele Bullock said in a press conference that she wouldn’t be overly worried about the impact of price falls as steep as 20 per cent. <\/p>\n

When asked if he shared that view this morning, Treasurer Jim Chalmers said people shouldn’t be worried about near term volatility in prices and that housing “is a long term investment”. <\/p>\n

“Over a long period of time, we’ve seen house price growth,” he told ABC radio. “We expect to see more modest growth over the next couple years.” <\/p>\n

ANZ bank was the latest major lender to update its forecast for price falls, saying it expects prices to drop by more than 10 per cent across capital cities, with Sydney and Melbourne to fall the most. <\/p>\n

MORE: Aussie landlords given backdoor bailout despite CGT and negative gearing change<\/a> <\/p>\n

\"A<\/a> House prices are tipped for their biggest fall in decades. \u00b7 Brook Mitchell Coalition lays out housing plan <\/p>\n

The coalition will vow to cut red tape and curb migration to get more Australians into a home. <\/p>\n

Opposition housing spokesman Andrew Bragg will use a major speech at the National Press Club to call for a cut to net overseas migration levels by nearly half to meet the rate of new housing supply being built. <\/p>\n

Treasury modelling published in the May budget (which has consistently undershot the reality) expects net overseas migration to fall from 301,000 to 225,000 by the end of the decade. But the opposition frontbencher today will advocate for an average annual net overseas migration rate of 180,000 to make up for a shortfall of housing. <\/p>\n

“A (net overseas migration) reduction on this scale is manageable and in line with reductions we have managed in recent history,” Senator Bragg will say. <\/p>\n

“Lifting migration standards, and analysing them carefully each year, is crucial to ensure integrity and public trust in our migration settings.” <\/p>\n

Building codes will also come under fire during the speech. <\/p>\n

“It is now illegal to build a cheap house in Australia,” Senator Bragg will say. <\/p>\n

\"Senator<\/a> Senator Andrew Bragg will call for sweeping changes to migration and building standards today. \u00b7 Hilary Wardhaugh <\/p>\n

The centrepiece of the speech will be a commitment to replace the National Construction Code with a new 80-page “Basic Australian Standard”. <\/p>\n

The codes sets the minimum required level for the safety, health, amenity, accessibility and sustainability of certain buildings detailed in over 2000 pages. <\/p>\n

The coalition’s new standards will focus on cost-effective structural, fire safety and health-related building standards. <\/p>\n

“Anything else like mandatory ramps, flattened shower flooring or reinforced walls would be optional extras,” Senator Bragg will say. <\/p>\n

“The house won’t be gold-plated but it won’t fall apart. It will be safe.” <\/p>\n

with AAP <\/p>\n

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