Ms PAYNE (Canberra) (14:08): My question is to the Prime Minister. How is the Albanese Labor government's
budget helping young Australians who aspire to own a home of their own? Why is this important, and are there any
alternative approaches to housing policy?

Mr ALBANESE (Grayndler—Prime Minister) (14:08): I thank the member for Canberra for her question. Last
week, we were with the member for Canberra and the Treasurer and the housing minister in the home in Kingston
of Matt, Mika and Pikelet. The aspiration of homeownership is right at the heart of the budget that we delivered last
week. It's something that is the fundamental aspiration that Australians have. They have it not only for themselves;
they have it for their kids and their grandkids. And the truth is that over the years, more and more, it's not just young
people—

Yes, it has got harder. That's the point. That's why we're fixing it. That's what we're fixing. I
take the interjection from the member for Page. It has got harder over many years, particularly since 1999. Prices
have gone up by more than double the level of wages since 1999 for so many young people. But also, parents and
grandparents worry that their kids will never get into a home of their own. That is, in part, because a young person
going up for an auction is standing at the auction and competing with an investor going for their fifth or their 10th
house or what have you, and they have a huge advantage over the first home buyer. That is just the truth.
What we have done is change the system so that, if people want to invest—good on them—they can still do so.
But they'll be investing not only in their wealth and their future assets; they'll be investing in the wealth and assets
of the nation. This is something that's been called for and acknowledged by some of those opposite, including the
shadow Treasurer, of course.
Last night, more Australians were on the 7.30 program talking about their own experiences. A young couple were
there. They had bought their first home in an auction in Sydney on Saturday for even less than they had budgeted.
That couple didn't come up against property investors with an unfair tax advantage. The young man, Sebastian, said
he was shocked and stunned that they had won at all. But that is what the reform is about. It is about making sure
that young Australians can have the reality of homeownership—not a dream that can't be fulfilled but a reality—so
every Australian, not just some, can aspire to a roof over their head. Aspiration for all, not just for some—that is
what we stand for, and that is what our budget delivers.