Labor and the Coalition have launched housing policies aimed at helping more Australians onto the property ladder ahead of the 2025 federal election.

The Coalition’s plan, led by Peter Dutton, offers first-home buyers of new builds a tax deduction on interest paid for the first $650,000 of their mortgage for up to five years. Means-tested at $175,000 (singles) and $250,000 (couples), this measure is expected to cost $1.25 billion.

Labor’s plan, announced by Anthony Albanese, expands the First Home Buyer Guarantee to all first-home buyers, removing income caps and increasing property price limits (e.g. Sydney: $1.5M). It also includes a $10 billion investment to build 100,000 homes for first-home buyers, with $2B in grants and $8B in zero-interest loans.

Labor says these homes will be built on underused government land, with access determined in partnership with state governments.

Both parties promise solutions—but with different routes to the same goal: increasing home ownership.