In a time of wage stagnation, the increase in the cost of housing is having an impact on the standard of living of people around the country.

In our own community, Uniting Ballarat revealed in July that more than 150 households were listed on the organisation’s priority list for housing or support. There is simply not enough housing to put a roof over the heads of all those in need.

The situation is no better in the other towns of our region – Creswick, Daylesford, Bacchus Marsh and Ballan are all facing struggles of their own.

The Australian Housing and Urban Research Institute estimates there is a shortfall of more than 525,000 affordable rental properties in Australia. That’s 525,000 more affordable homes needed for Australian families – many in our own community.

That’s why a Shorten Labor government will help more Australians with the cost of rent and turbocharge construction, with a 10-year plan to build 250,000 houses – Australia’s biggest ever investment in affordable housing. These properties would be available to rent to eligible Australians – including those on low and moderate incomes – taking pressure off budgets and helping people save.

Labor’s plan will deliver affordable, environmentally sustainable housing that help to reduce energy consumption and cost of living pressures on families. Overseas students, temporary foreign workers, other non-residents will not be eligible tenants.

This investment will allow key workers like police, nurses, teachers and emergency services workers to live affordably near their jobs and near their kids’ schools.

A family paying the national rental average of $462 a week could save $92 a week under this plan.

This will have a major impact on the household budgets, and the lives, of many. Labor’s plan will provide investors with certainty to build, knowing they will have government support and guarantees beyond the decade.

The existing National Rental Affordability Scheme has attracted private investment of about $12.9 billion to deliver 37,000 affordable dwellings since 2008. This scheme has seen many affordable houses and units built across Ballarat. Despite this, the Liberals have abandoned affordable housing and axed subsidies that encourage construction.

Labor will bring back affordable housing policy. Not only will this investment put a roof over the heads of many, but it will also double as a jobs policy. These are the kind of policies which will make our community more sustainable, inclusive and affordable. 

Catherine King is federal MP for Ballarat.