Coalition to scrap Albanese’s housing fund, cap migration on new homes
Net overseas migration will be capped by the number of homes completed and Anthony Albanese’s essential housing schemes will be scrapped as part of the Coalition’s response to the 2026-27 budget to be announced by leader Angus Taylor on Thursday.
Mr Taylor is expected to appear before parliament shortly after 7.30pm on Thursday for his customary response to the Albanian government’s latest budget.
The coalition is expected to specifically target housing reform measures in the budget, including changes to capital gains tax and negative regulation, which the Opposition has already promised to repeal.
The Coalition is also expected to announce it will seek to limit net overseas migration in the number of homes completed each year as part of its four-point plan.
The Minister of Housing is expected to present to parliament the number of new homes completed each year, and this number will be used to set a ceiling for the following year’s immigration numbers.
Immigration may increase, but only with the completion of housing.
The Treasury expects net overseas migration to fall from 295,000 to 245,000 in 2026-27, with the government focusing on migrants already in the country and reforming the points system.
The coalition is also expected to seek to scrap Mr Albanese and Labor’s flagship housing programmes, including the Housing Australia Future Fund (HAFF), the Help to Buy scheme, Building Rental tax incentives and the New Homes Bonus.
The Albanian government aims to build 1.2 million homes by mid-2029, partly through HAFF, a $10 billion federal investment vehicle for social and affordable housing.
Mr Taylor said the Coalition plan was a “common sense housing plan”.
“Australia should only bring in as many people as it can accommodate,” he said.
“Under Labour, immigration is running miles ahead of housing, putting pressure on rents, house prices and every young Australian trying to get ahead.
“This is about mass migration moving ahead of the homes, roads, hospitals, schools and services Australia can provide.”
Mr Taylor said Australians “could see the housing crisis every weekend”.
“They see it in lines around the block at rent inspections, they see it when rent goes up, and they see it when young people who work hard and save a lot are told that the dream of homeownership is now just out of reach,” he said.
“Our plan is simple: bring in only the people we can accommodate, build the houses more cheaply, and make sure the roads, water and sewer are in place so the houses can actually be completed.”
“Workers’ answer to the housing crisis is more taxes, more bureaucracy and fewer homes.”
The coalition is also expected to announce a $5 billion Housing Infrastructure Fund that will unlock up to 400,000 homes by financing critical infrastructure such as water, sewer, road access and other public services.
The funding will be made available directly to local councils and developers.
Cuts will also be made to the National Construction Code, whose amendments have been paused until 2029, while maintaining basic safety standards.
The code is Australia’s primary national regulatory framework, but has been accused of increasing requirements on developers and therefore increasing some costs.
It is understood changes to the code could save around $70,000 on the cost of a new home.
