Shorten’s plea to Macarthur’s budding property owners

Bill Shorten discussed the property market crisis in Claymore. Picture: Ben Chenoweth

Bill Shorten discussed the property market crisis in Claymore. Picture: Ben Chenoweth

“Don’t give up.”

That’s the message federal opposition leader Bill Shorten has for Macarthur residents hopeful of entering the property market.

Mr Shorten chose Claymore’s newest housing estate, Hillcroft, to announce Labor’s policy to target the “housing affordability crisis”.

Under the policy there would be a crackdown on foreign buyers, vacant properties and those who invested in property with the assistance of self-managed super funds.

Simply, he would target incentives that helped mogul’s expand on their property empire and swing the balance back in the favour of first home buyers who were struggling to enter the market as houses prices grew rapidly.

“Imagine housing prices to be like the gas jets on a boiling pot,” he told the Advertiser.

“What we want to do is reduce some of the gas jets so the pot doesn’t boil as rapidly.

“It’s not a level playing field … the first home buyer doesn’t get any help.”

The Labor leader met with owners of local building company, Fairmont homes, and took a tour through two of the company’s houses under construction in Hillcroft.

The Macarthur region has been earmarked to bear a significant portion of Sydney’s new houses.

Mr Shorten was optimistic that a 15-year-old from a middle class Macarthur family would still be able to enter the housing market in 10 years time.

“I do think, in 10 years time, (they will be able to buy a property) courtesy of policies we are introducing,” he said.

“But I would tell the 15-year-old to say their prayers that Labor gets elected at the next election.

“(If not) it will get worse and a lot harder.

“Understand how you vote at the next election will have an impact on your dream of your first home.”

Mr Shorten made no apologies for his hard-line stance, admitting the changes may not be popular with everyone.

“I’m in a fight for the Australian dream,” he said.

“Australians should able to get a home of their own through hard work and saving money.

“Twenty years ago it would take on average six years to save for a deposit – now it’s 10 years plus.

“These are hard decisions. Some people will attack us for not allowing negative gearing, over-borrowing against self-managed super funds or for charging foreign people more money to buy Australian housing.

“But I have to win this argument for the sake of the home ownership dream.

“We want to get people out of the nightmare.”

Bill Shorten (left) talks to Fairmont Homes' Daniel Logue about the housing affordability crisis. Picture: Ben Chenoweth

Bill Shorten (left) talks to Fairmont Homes' Daniel Logue about the housing affordability crisis. Picture: Ben Chenoweth

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