Australian Prime Minister Anthony Albanese has announced a national election set for May 3, launching a five-week campaign that is expected to focus on cost-of-living challenges.
Albanese, who is seeking a second three-year term for his Labor government, framed the election as a choice between his administration’s plans to “keep building” and the opposition Liberal Party’s proposals for spending cuts.
“I want this campaign to be about policy substance, about hope and optimism for our country,” Albanese said at a press conference on Friday.
“I’m optimistic about Australia. That’s one of the big distinctions in this campaign,” he added.
Opinion polls suggest a tight race between Labor and the Liberal-National Coalition, led by former police officer Peter Dutton. If Labor loses, it would mark the first time a government has served just one term since 1931.
Labor came to power in 2022 after defeating the center-right Coalition, but dissatisfaction over soaring living costs— particularly the worsening housing crisis— has dented its popularity.
Australia has one of the least affordable housing markets globally, with the median price-to-income ratio nearly doubling between 2002 and 2024.
A Gallup poll conducted last year found that more than three-quarters of Australians were dissatisfied with the availability of affordable housing in their area— a 31-point increase since 2020. Among 13 countries surveyed, only Türkiye reported higher dissatisfaction levels with housing conditions.
