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Federal election 2022: Labor leader Anthony Albanese unveils plan to reduce pressure on rising rental prices

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A Labor government will seek to increase housing supply to reduce pressure on rising rents.

The Community Housing Industry Association says people are being squeezed out of the market as rent prices exceed wages.

Even after receiving rent assistance, nearly half of tenants were still experiencing housing stress.

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Labor leader Anthony Albanese said the party’s Housing Australia Future Fund aims to address some of these issues.

‘Part of the problem we’ve seen is that you’ve seen a reduction in Commonwealth engagement and involvement in building new social housing,’ he told NSW area reporters on Thursday. Hunter.

Australian Opposition Leader Anthony Albanese. Credit: LUKAS COCH/AAPIMAGE

“The last time we were in power, we built something in the order of 20,000 additional social housing units, but we renovated or refurbished some 80,000.

“We also changed the social experience of people in this public accommodation.”

Asked about the private market, Mr Albanese said the increased supply would relieve the pressure.

“I had a meeting with people from the Property Council last week…we will continue to engage,” he said.

“We will have more to say about housing, including the private market, during the campaign.”

HOUSING STOCK
Anthony Albanese says Labour’s Housing Australia Future Fund will tackle rising house prices. Credit: AAP

CHIA wants all parties to commit to a national housing strategy involving all levels of government and the private and not-for-profit sectors.

The strategy should include investment in the construction of 25,000 new social and affordable rental units per year, a national build-to-rent-to-buy program and a national climate resilience fund to support the renovation or renewal of poorly designed housing.