Federal Election 2025: What the Parties are Promising Property

With less than a fortnight until the election of Australia’s 48th Federal Parliament, the pace of campaigning is reaching fever pitch. Ahead of polling day on May 3, The Urban Developer has compiled each party’s policies around development, property and construction. Australian Labor Party (ALP) Leader and incumbent Prime Minister: Anthony Albanese The ALP's policy for the election has included the extention of schemes introduced during its current term, including a first home buyers scheme that has helped 150,000 buyers enter the market thanks to 5 per cent deposits and no requirement for lender ’ s mortgage insurance. The Government has also improved renters’ rights and delivered 28,000 of a promised 55,000 social and affordable homes. As well, it committed $1.2 billion to crisis and transitional accommodation. A two-year ban on foreign residents buying existing homes and foreign land banking was introduced this year. It also introduced free TAFE training and $10,000 incentive payments to encourage apprentices in construction. Its $43-billion Homes for Australia Plan has a target of 1.2 million homes to be built over the next five years. The ALP says it would expand that 5 per cent deposit scheme for first home buyers with $10 billion to encourage 100,000 more homes. Meanwhile, its Help to Buy shared equity scheme is slated to begin this year. Under it, the Government would pay up to 40 per cent of the house price, reducing mortgages. Other promised investments include $54 million for advanced manufacturing for prefabricated and modular home construction, and $120 million via the National Productivity Fund to help states remove construction and planning barriers. The free TAFE scheme would be made permanent and $8 billion invested into renewable energy through a $2-billion expansion of the Clean Energy Finance Corporation to push the grid to 82 per cent renewables by 2030 if the ALP is returned. An extra $57.6 billion has been promised for defence, including for infrastructure in South Australia and Western Australia, upgrades to bases and facilities and investing in manufacturing. An additional eight Perinatal Mental Health Centres across Australia have also been promised via a $16.7-million investment. And the ALP has promised the rollout from July 1 of a $2.3-billion Cheaper Home Batteries Program to help households reduce their reliance on the grid. Liberal-National Party (LNP) Current leader: Peter Dutton The Liberals have promised to rein in inflationary spending, wind back regulations, lower taxes and provide access to more affordable and reliable energy. Leader Peter Dutton has proposed an Australia Needs Nuclear policy and a National Gas Plan. The LNP wants to boost housing supply, reduce migration, incentivise first home buyers and ease pressure on interest rates and rents. It has promised $5 billion to fund necessary trunk infrastructure to allow up to 500,000 new homes to be built. It has a target of 400,000 apprentices and trainees with new incentives for small and medium businesses to hire them. A crackdown on corruption and organised crime in the construction industry and the deregistration of the CFMEU has also been promised as has freezing changes to the National Construction Code for 10 years. The Australian Building and Construction Commission would be reestablished as part of that effort. The LNP also wants a two-year ban on foreign investors and temporary residents buying existing homes. The party says 40,000 homes would be initially freed up, and another 100,000 homes over the next five years, by reducing permanent, student and refugee and humanitarian migration numbers, and increasing the student visa fee. First home buyers could access up to $50,000 from their super to buy homes which must be returned if the house is sold to support retirement. Dutton has also promised to invest in roads and rail infrastructure and another $3 billion to continue NBN work. The Greens Current leader: Adam Bandt The Greens want to regulate banks, offer a discount mortgage called HomeKeeper to first home buyers and owner-occupiers through a product-based profit cap. It would not be available for investment property mortgages, commercial premises or holiday homes, and smaller banks would be supported to offer a similar product without financial disadvantage. The HomeKeeper mortgage rate would be 1 per cent above the RBA cash rate. Bandt also wants to limit rent increases to 2 per cent every two years and phase out the capital gains tax discount, negative gearing and other tax cuts for property investors who have more than one investment property. Unchanged from the last election, the Greens want a government-owned developer to build homes that are sold and rented at affordable rates and a National Renters Protection Authority to enforce renters’ rights. The party also wants to build 1000 public healthcare clinics to allow people to access free healthcare. Student debt would be wiped with free university and TAFE brought back. The Greens want the High Speed Rail line from Brisbane to Melbourne to be built by 2040 with $5 billion to invest in infrastructure assets and take a 51 per cent share of Brisbane Airport Corporation and control its slot management. A $40-billion Sustainable Cities Fund would help fund accessibility upgrades to public spaces, public transport and infrastructure. Walkable neighbourhoods and sustainable development within cities would be supported by this fund as would the push for states to incorporate sustainable development into their policies and regulations. The Greens would invest $5.2 billion over four years to create 50,000 Housing First tenancies for the homeless, build 40 supportive accommodation buildings nationally, and double the funding to the states and territories for homelessness services and public and community housing. Keen to replicate the success of the scheme in Queensland, the Greens want public transport fares nationally to be cut to 50 cents. The Greens are promising funding to expanded services to areas that need them with a $2-billion Childcare Desert Fund, money for several health policies and a new capital grants fund for public schools. Australia’s top 150 billionaires would be taxed at 10 per cent of their net wealth and a 40 per cent tax imposed on the excess profits for corporations with a turnover of more than $100 million.

Federal Election 2025: What the Parties are Promising Property

Australian Labor Party (ALP)

Leader and incumbent Prime Minister: Anthony Albanese

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