Affordable Housing
Homes for Victorians,
Not Investors
Let’s get to the point—the housing crisis isn’t some unavoidable accident. It’s a choice made by politicians who answer to the banks, not to us.
Both major parties refuse to bring down house prices because the banks that bankroll them have trillions tied up in the property bubble. With up to 80 per cent of Australian bank shares owned by overseas investors like BlackRock and Vanguard, it’s no wonder Labor Housing Minister Clare O’Neil straight-up admitted in November 2024 that the government is “not trying to bring down house prices.” At least she was honest about who they really work for.
The Citizens Party is different—we’re here to put young Australians first, not investors on Wall Street!
What is really exciting is that we’ve actually solved this kind of problem before, so we can do it again.
From 1945 to 1956, the Commonwealth-State Housing Agreement (CSHA)— funded by the government-owned Commonwealth Bank—built 100,000 public homes in just one decade. Victoria’s State Bank built nearly 5,000 homes in a single year back in the 1920s! South Australia’s Housing Trust housed a third of the state at rents of just one-fifth of a worker’s income—and it didn’t cost taxpayers a cent.
The best part? The tools still exist today. The Reserve Bank retains the powers of the old Commonwealth Bank to lend this way, and agencies like Housing Australia are ready to go. All we need is a government with the guts to use them. That’s what the Citizens Party will deliver.
So here’s our plan:
Short Term
We will stop banks from foreclosing on family homes and write down unpayable mortgage debt to affordable levels—because no one should lose their home just for falling on hard times.
We’ll subsidise and reduce rents for young Victorians being hit with the cost-of-living pressures.
Click here for more about a Rent Freeze
Long Term
We’ll create a new government-owned public bank to fund a massive public housing program and offer first home buyers loans at lower interest rates than the private banks do.
We’ll also fix the tax system so property investors can’t keep outbidding young families.
Be aware though: The banks and their political mates will fight us every step of the way—but with your support, we’ll break their grip and make housing affordable again.
Click here for more about a new State Bank
Imagine a future where owning a home isn’t a pipe dream! That’s the future we’re building.
