Labor has set itself up for defeat on a key housing bill, lashing the Greens for blocking legislation designed to speed up assistance for as many as 40,000 Australians locked out of the property market.

As the Greens signalled a willingness to negotiate on demands for the winding back of negative gearing for property investors, Prime Minister Anthony Albanese challenged the Senate to urgently pass Labor’s shared equity housing scheme, as well as a bill to boost build to rent developments in Australia.