British News Agency

Addressing Australia's housing market and the difficulties young people face in accessing housing, New Zealand Prime Minister Christopher Luxon said that tax reforms and new housing projects were creating fairer opportunities for first-time homebuyers.

Emphasizing the importance of young people's participation in the future, Luxon said, "We must give young Australians the opportunity to have a stake in the country's future. And the best stake in Australia's future is owning a home."

Speaking about changes in housing policies and their results, Luxon said, "But Australia's housing policies had not been serving young Australians for far too long. Since we changed tax concessions for property investors, first-home buyers are facing less competition and more homes are being built across the country."

Luxon concluded his statement by saying, "Because every Australian, no matter where they live, deserves a fair chance to own their own home. And now, we are giving them that chance."