“New ABS data confirms the Albanese government’s Budget has smashed confidence, kneecapped first home buyers, and driven investment and confidence from new homes, leaving young Australians behind”, said Shadow Treasurer, Tim Wilson.
Mr Wilson’s comments follow the release of new ABS lending indicators data, which shows the total number of new loan commitments for dwellings fell 5.4 per cent in the June quarter, while the value fell 5.2 per cent. New owner occupier loan commitments fell 3.3 per cent by number and 1.9 per cent by value. New investor loan commitments fell 8.6 per cent by number and 10.2 per cent by value.
“The Albanese government is once again exposed for slippery spin to hide their Budget dishonesty, with industry data exposing that the price of first homes is rising and ABS data now confirming first home applications are falling”, Mr Wilson said.
“When the Prime Minister is caught out deceiving the public his answer is to double down and he treats young Australians as collateral damage”.
“The government has achieved a rare quinella: rising rents, kneecapping first homebuyers, falling prices, fewer homes and smashing confidence – and their answer is to overshoot migration that doubles down on the problem”.
“Anthony Albanese has forgotten where he came from. He no longer has the empathy for young Australians or those struggling to get ahead”.
“The Coalition has a plan to fix our economy and back young Australians to get ahead. We will deliver our Tax Back Guarantee, giving every Australian worker a bigger tax cut every year, and our Small Business Act, so Australians have the confidence to invest, build and create the homes and jobs this country needs”.
