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Housing-related issues, including affordability concerns, are becoming increasingly important to voters as another federal election approaches, according to Mortgage Choice.
Housing-related issues or policies were rated as the most important aspect for those planning to buy a home ahead of the upcoming federal election, new Mortgage Choice research from the December quarter 2024 shows.
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The findings are from the quarterly Mortgage Choice Home Loan Report, which drew on home loan submission data from Mortgage Choice and a nationally representative survey of 1,000 consumers.
Among home buyers surveyed, 96 per cent cited housing-related issues or policies as their top concern, up from 89 per cent in the previous quarter.
The same group rated housing affordability (56 per cent), increasing housing supply (37 per cent), and providing more support for first home buyers (35 per cent) as the most important issues.
“Our survey reveals that the most important housing-related issue across generations is housing affordability,” Mortgage Choice CEO Anthony Waldron said.
“Following that, although it varied among the generations, increasing the supply of homes available, rent control or rent caps, and more support for first home buyers were among the highest-ranking issues.”
Politicians pledge property reforms
With the federal election fast approaching, a raft of politicians are making commitments to reforms and reviews into the property market.
Yesterday (Tuesday, 11 February), Liberal Senator Luke Howarth gave a speech at the Mortgage and Finance Association of Australia (MFAA) professional development day, calling for reforms into the CSLR and serviceability buffer, warning that both are not fit for purpose.
At the same event, Minister for Housing and Homelessness Clare O’Neil spoke of the need to prioritise building more homes to boost housing supply and make it easier for Australians to buy property.
In December, Liberal Senator Andrew Bragg lamented the country’s housing issues, saying that he believed the Albanese government had “presided over a collapse in supply” and stressed the need for reforms to help first home buyers.
Ahead of the election, the Labor government has also been making major housing pledges, committing in January to invest more than $182 million in infrastructure for housing in NSW as part of a move to build 25,000 more homes across the state.
Prime Minister Anthony Albanese said at the time that the investment would “unlock an additional 25,000 homes across New South Wales” and form part of the government’s $32 billion Homes for Australia Plan, a national target of building 1.2 million new, well-located homes over the next five years.
[Related: Shadow assistant treasurer calls for CSLR and serviceability buffer reforms]
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