Peter Dutton reveals $5bn plan for 500,000 new homes

The Opposition has revealed a multibillion-dollar plan to create 500,000 new homes. Will it work? Read the details here and tell us what you think.

A Coalition federal government will fast-track water, power, sewage and road infrastructure to unlock 500,000 new homes across the nation as part of the policies the Opposition will take to the polls.

An elected Coalition will also freeze any changes to the National Construction Code (NCC) for the next decade in a bid to cut more red tape.

As the next federal election, due no later than May, shapes up to be one fought on Australia’s housing crisis, the Coalition is committing $5bn in infrastructure funding to fast-track homes on greenfield sites.

The announcement is informed by consultation that revealed many housing developments on greenfield sites were stalled because supportive infrastructure such as access to water and sewerage, roads and electricity were missing.

The opposition said greenfield housing was an affordable option for first-homebuyers, but many shovel-ready projects had been stalled.

Opposition Leader Peter Dutton has announced the Coalition’s housing policy. Picture: Martin Ollman

The funding will be provided on a “use it lose it basis” — if no progress is made within 12 months of the funding contract, the money will be cut off.

The Opposition claims the government’s recent changes to the NCC, such as energy efficiency standards, have added $60,000 to the price of a new home.

“Over the past two years, the Coalition has consulted with hundreds of local councils across the nation to discuss new housing supply constraints … (this revealed that) one of the major impediments to new housing projects is the lack of funding for critical enabling infrastructure,” the Coalition statement said.

“Whilst it is not the usual role of the federal government to fund enabling infrastructure like water, power, sewerage, and access roads, the scale of Labor’s national housing crisis means the Coalition will, on a time-limited basis, unlock necessary new housing supply and keep the Australian dream alive.”

The policy is designed to fast-track greenfield housing developments.

The Opposition has also committed to working with the construction industry to review recent changes to the NCC and find ways to “further reduce red tape and bring down costs for consumers.”

“At a time of high inflation, the government’s changes to the NCC have added red tape and increased the compliance burden for new housing projects, driving up costs for purchasers,” the Opposition said.

“Stakeholders estimate the government’s recent changes to the NCC (including changes to energy efficiency standards) have added up to $60,000 to the price of a new home.

“At the same time, the Coalition will work with the building and construction industry to ensure there are enough skilled and temporary skilled visas for those with essential skills to support our local tradies to build the homes we need”

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Originally published as Peter Dutton reveals $5bn plan for 500,000 new homes