Albanese Unveils Housing Plan Amid Seaside Home Controversy

Australian Prime Minister Anthony Albanese announced a significant housing initiative to combat a supply shortage while simultaneously drawing attention due to his intended purchase of a multimillion-dollar seaside home. The Labor government's plan aims for 1.2 million new homes by 2030 in the face of rising house prices.

Australian Prime Minister Anthony Albanese unveiled a new building program addressing a severe housing shortage on Tuesday, while news of his A$4.3 million seaside home purchase captured national headlines.

Albanese's centre-left Labor government committed to constructing 1.2 million homes by 2030, targeting relief in Australia's expensive housing market. This initiative comes amid a looming federal election, with the government trailing its conservative rivals. During a Queensland press conference announcing over a thousand new homes, including many low-cost options, questions focused on the Prime Minister's oceanfront home purchase with his fiancée.

"I earn a good income. I understand that, and I know what it's like to struggle," Albanese stated, referencing his upbringing in public housing. The new home in New South Wales, near his fiancée Jodie Haydon's family, has drawn attention in a country where house prices continue to rise despite frequent interest rate hikes by the central bank.

(With inputs from agencies.)