Wednesday, 18 March 2026

 Jaclyn SYMES (Northern Victoria – Treasurer, Minister for Industrial Relations, Minister for Regional Development) (12:47): I unfortunately did not get the opportunity to discuss housing with the royals this week. However, I would love to talk about housing in this chamber, because I would love to inform the chamber about how we are helping Victorians to buy their first home. Victoria, as we know, despite those opposite being very upset about it, comfortably leads the nation in first home buyers, with almost 40,000 new loan commitments in the last year – 11,000 more than New South Wales and 16,000 more than Queensland. It does not happen by accident. We have supported first home buyers through the first home buyers fund, which was so successful the Commonwealth has rolled it out nationally. The Treasury portfolio works very closely with the Minister for Housing and Building, the Minister for Planning and other portfolios to provide concessions and exemptions on stamp duty for first home buyers. Our foreign purchaser duty ensures that first home buyers are not losing at every auction to cashed-up foreign investors, and we are making buying a home fairer by getting rid of underquoting, requiring sold prices to be disclosed and removing the need for buyers to spend thousands on multiple costly building and pest inspections.

Most importantly, on this side of the house, we know that the best way to support first home buyers is to build more homes. We are the first in the nation for housing approvals, housing commencements and housing completions. We have completed 54,000 homes in the last year alone, almost 10,000 more than New South Wales. That is almost 150 new homes every single day. Some people out there just want to price out first home buyers and advocate for tax cuts that would push up the price of homes for Victorians while lining the pockets of investors. Only this government can be trusted to build more houses so that young families can afford to live where they want. Melbourne is the most affordable capital city in the country. The Allan Labor government is committed to keeping it that way. And just a reminder: we are the world’s most livable city.