Labor wants to fix Australia’s housing issues – but there’s little hope for those not already on the ladder

While Labor’s decisive victory aimed at fixing housing affordability has brought hope to many, the head of Australia’s top banks expressed skepticism about its success. NAB’s Andrew Irvine noted that the gap between homeowners and others could widen further, while ANZ’s Shayne Elliott emphasized the lack of meaningful reforms and the challenges in addressing high costs. Despite some optimism about future rate cuts potentially easing affordability for those already in the market, the broader housing market faces significant hurdles, with many advocates now turning their attention to rental rights rather than direct mortgage reforms.