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Jim Chalmers says budget changes allowing first home buyers to ‘have a crack’

changes allowing first home buyers to ‘have a crack’ The treasurer, [Jim Chalmers](https://www.theguardian.com/australia-news/jim-chalmers--australian-politician-), has suggested falling auction clearance rates may be a “good thing” for first home buyers if it means they

Property prices may drop but it’s decades of policy failure, not the budget, to blame

clearance rates have dropped, [home prices in several of Australia’s capital cities have begun to fall](https://www.theguardian.com/australia-news/2026/jun/01/australia-home-prices-fall-year-long-decline-value-prediction), and some analysts now expect price declines of up to 10%. There are, of course

Australia’s property investor borrowing rises at fastest rate in a decade - despite interest rate rises

Australia email](https://www.theguardian.com/email-newsletters?CMP=copyembed&CMP=emailbutton) “Obviously, we understand that rates and everything are going to change, but I always just was like: ‘As soon as we’re in a position to buy it, I definitely

Hastie says falling house prices might not be ‘all that encouraging’ for recent buyers – as it happened

auction clearance rates dropped and house prices fell in some cities, **Jim Chalmers** downplayed the role of Labor’s budget but said it [may be a “good thing” for first-time buyers](https://www.theguardian.com/australia-news/2026/jun/01/house-prices-auction-jim-chalmers-response-first-home-buyers).