Labor MP Claims Victory on Housing Tax Debate Amid Soaring NSW Homelessness

A prominent Labor MP has declared victory in the government's ongoing debate surrounding housing tax reforms, asserting that the administration has "won the debate" on key policies like negative gearing and capital gains tax on property. Julian Hill stated that while engagement continues on other areas, the argument for property tax reform and providing young Australians a fairer chance in the housing market has been decisively won.

In parallel, Housing Australia revealed that its Help to Buy shared equity scheme has approved 2,589 applications between December 5, 2025, and April 30, 2026. While the scheme received 5,323 applications, officials noted it operated for only part of the forecasted year. The scheme's operating cost is projected at $21 million over the forward estimates, with nearly $1.6 billion spent on buying stakes in homes this year and $6.9 billion over the forward estimates. Officials noted that the long-term financial impact on the commonwealth's balance sheet depends on future house price growth.

Meanwhile, a stark report highlights a significant rise in homelessness in New South Wales, with figures increasing by 75% over the past six years. This data emerges amidst ongoing discussions about housing affordability and government interventions aimed at assisting first-home buyers. The report underscores the growing challenge of housing insecurity in the state, even as the government promotes schemes like Help to Buy and the first home buyer guarantee, which has assisted over 312,000 people since 2022.

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I believe the government’s won the debate on negative gearing. I believe we’ve won the debate on capital gains tax on property. And we’re winning the debate, we got a way to go, on removing the distortion that would otherwise be there. … I think we’re winning the debate … Start ups and so on, we are still engaging on. But I absolutely believe we’ve won the argument about property and giving young Australians a fair crack at the housing market.