Policies, Promises, and What Buyers and Investors Need to Know

With the federal election just around the corner (May 3, 2025), property policy has taken centre stage. PRD Wagga breaks down what both major parties are offering and what it means for local buyers, sellers, and investors.

🔴 Labor’s Platform:

• Help to Buy Scheme: Shared equity model where the government covers up to 40% of the purchase price—only 2% deposit needed.

• Housing Australia Future Fund: 100,000 affordable homes nationwide.

• Home Guarantee Scheme: No LMI on 5% deposits for singles earning under $125K or couples under $200K.

• Rental Caps & Reforms: Push for more tenancy protections, possibly reducing investor returns.

🔵 Coalition’s Platform:

• Access Super for Deposit: Up to $50,000 available from your super to buy your first home.

• Interest Deduction on Mortgages: Proposal to make first-home buyer mortgage interest partially tax deductible.

• Land Supply Boosts: $5B fund to fast-track regional land release and infrastructure.

💬 How It Hits Wagga Wagga:

• First-home buyers will benefit under either party, particularly in the $400K–$700K range.

• Investors may prefer Coalition incentives, while renters may favour Labor’s tenancy reforms.

• Regional areas like Wagga will likely benefit from infrastructure

With the federal election just weeks away, housing is firmly on the political agenda. In Wagga Wagga, where affordability is a major drawcard for both home buyers and investors, the election outcome could directly influence the way people enter or engage with the market in the months to come.

Both major parties have outlined competing visions for housing. Labor is proposing a series of affordability-focused measures, including the Help to Buy scheme, which would allow eligible buyers to purchase a home with as little as a 2% deposit—thanks to a government co-ownership structure. They’re also expanding the Home Guarantee Scheme, giving singles and couples easier access to the property ladder without needing a 20% deposit or paying Lenders Mortgage Insurance.

Meanwhile, the Coalition is promoting home ownership through policies like allowing access to superannuation savings for first-home deposits, proposing up to $50,000 be withdrawn without penalty. They’ve also suggested interest paid on mortgages should become tax deductible for first-home buyers, along with incentives to fast-track land releases and infrastructure in regional areas.

So what does all of this mean for Wagga? In simple terms, both parties are aiming to stimulate buyer activity. If Labor’s affordability plans come to fruition, we could see an influx of first-time buyers in the sub-$700,000 market—an area where Wagga is uniquely positioned to deliver. On the other hand, Coalition policies may offer broader appeal to investors or self-funded retirees looking to unlock super and re-enter the market.

Either way, housing policy will have a direct impact on regional buyers. The PRD team recommends staying engaged with the election, understanding how proposed policies could benefit your circumstances, and being ready to act when the dust settles.