According to the latest Mortgage Choice Home Loan Report, housing affordability is set to play a crucial role in the next federal election, with 87% of Australians identifying it as an important issue. Millennials, in particular, are heavily focused on this topic, with 93% citing it as a critical factor in their voting decisions.
The top concerns include making housing more affordable (65%), increasing housing supply (47%), and providing greater support for first-home buyers (37%). While 71% of mortgage holders support government intervention, views on specific reforms, such as tax changes, remain divided.
Despite challenges, buyer optimism is growing. A steady cash rate throughout 2024 and the highest number of new property listings in nearly a decade are providing more choices for buyers. Nearly half of prospective buyers plan to purchase in summer or autumn 2025, with many awaiting potential rate cuts to boost affordability.
Anthony Waldron, CEO of Mortgage Choice, highlights that lower interest rates and stamp duty reforms could significantly ease the path to home ownership. For those navigating this evolving landscape, understanding market trends will be critical. Reach out to discuss how these developments may align with your property goals.
