Pauline Hanson Unleashes Scathing Attack on Albanese Government Over Housing Affordability ‘Disaster’ – As Experts Warn First-Home Buyers Could Be Left Financially ‘Wiped Out’
- Pauline Hanson slams Albanese government’s housing policy, claiming it has worsened affordability crisis
- First Home Guarantee scheme allows buyers to purchase property with just 5 per cent deposit, sparking concerns of financial ruin
- Hanson calls for immediate action to reduce housing pressure, including deporting 75,000 illegal immigrants and cracking down on visa fraud
One Nation leader Pauline Hanson has launched a blistering attack on the Albanese government, accusing it of exacerbating the housing affordability crisis through reckless policy decisions. Hanson singled out the First Home Guarantee scheme, which allows first-home buyers to purchase property with just a 5 per cent deposit, as a ‘disaster’ that will leave young Australians saddled with massive loans and struggling to achieve their dream of home ownership.
‘They’ve done next to nothing to increase supply,’ Hanson fumed. ‘Now prices are jumping, and the dream of home ownership is slipping further out of reach.’ Hanson cited a shocking example of a house listing in Airport West, north-west Melbourne, where the price skyrocketed by more than $100,000 just days after the government introduced the changes to its first-home buyers scheme.
Experts, including Barefoot Investor Scott Pape, have also voiced concerns about the policy, warning that it could lead to financial ruin for vulnerable buyers. ‘With only five per cent equity, one bad year, job loss, health scare, divorce, and you’re wiped out,’ Pape cautioned. ‘You’re trapped. You can’t refinance, can’t sell without tipping in cash.’
The Reserve Bank of Australia has cautioned that structural supply shortages will persist for years, and that demand-side policies like Labor’s deposit scheme will do little to ease affordability in the short term. Hanson argued that the government’s failure to address supply, while simultaneously increasing demand through mass immigration, is a recipe for disaster. ‘One Nation warned this would happen,’ she said. ‘Labor chose headlines over honesty.’
Housing Minister Clare O’Neil has defended the policy, claiming that Treasury modelling shows it will have a minimal impact on housing prices. However, Hanson remains unconvinced, calling for immediate action to reduce housing pressure, including deporting 75,000 illegal immigrants and cracking down on visa fraud. ‘We need to get back to basics and address the supply issue,’ Hanson urged. ‘The government’s policies are only making things worse.’