What are the differences between the major parties’ homebuying policies this election?

Labor and the Coalition’s homebuying assistance policies for the 2022 election are both aimed at helping people into the property market, but they have different rules. Photograph: Lukas Coch/AAP

With the cost of houses in Australia soaring in recent years, including up almost 25% last year, both major parties have policies designed at helping people into the property market.

The Labor leader, Anthony Albanese, used his campaign launch in Perth on Sunday to unveil the party’s new “Help to Buy” scheme, while the prime minister, Scott Morrison, has been talking up the Coalition’s existing “Home Guarantee” scheme which it launched in 2020.