Labor has kick-started its signature housing program, using the entire first year of funds to purchase a fixer-upper in Sydney’s inner west. The two bedroom, one bathroom property will be used to solve the housing crisis.
PM Anthony Albanese said the purchase showed how serious the Government was about tackling housing availability. “With our $500 million commitment, we’ll be able to get five people, maybe six if you count the kitchen as a bedroom, into affordable housing in the first year of the policy alone,” he said.
He conceded the property needed a bit of work, but said the government could use money from next year’s $500 million allocation to put in a kitchen and bathroom. “By 2025 we’ll have it ready to go – subject to the availability of builders”.
A Labor spokesperson said officials had considered using the funds to rent, instead of buying, social housing, but after waiting in line for three quarters of an hour at an open inspection they pulled the pin. “No chance we’d get it,” she said.