During the recent election season, both parties laid out their housing promises. Labor’s key election promises were:

Tax cuts

  • From July 2026, income tax rates will be cut. The 16% rate will drop to 14% and will cost $17.1 billion

Cost of living relief 

  • $150 energy rebates
  • Cheaper PBS medication
  • More bulk-billing
  • 50 new urgent care clinics

Infrastructure 

  • $17.1 billion earmarked for transport infrastructure, including
    • Bruce Highway upgrades
    • Melbourne Airport Rail
    • Western Sydney rail connections

Housing 

  • Expansion of the Help to Buy scheme (low deposit, shared ownership)
  • $10 billion to build 100,000 affordable homes for first home buyers
  • Ban on foreign buyers of existing homes for two years
  • $1 billion for crisis accommodation
  • Investment in modular housing

Still missing

Most pledges were aimed at demand stimulation (first homebuyer schemes, grants, tax tweaks) but the core issues remained. Demand-side levers may win votes, but they rarely solve the underlying problem.

What is lacking is a cohesive, long-term plan to unlock supply. Planning frameworks, delivery pipelines, long-term investment in enabling infrastructure: the harder, less headline-friendly work that is critical for real change.

This article references findings from our April 2025 Economic and Residential Property Market Report. Read the full report here.