Australian Prime Minister Anthony Albanese has defended the Federal Government’s controversial housing tax reforms despite growing criticism from the Opposition and some state leaders.

He insisted the changes to capital gains tax and negative gearing are aimed at improving housing affordability and helping more Australians enter the property market.

Albanese argued the current housing system is failing first-home buyers and said reform is necessary to increase fairness.

He also dismissed criticism of the policy, saying opponents have failed to offer credible alternatives.

The Prime Minister reaffirmed that the Government will continue pursuing the tax overhaul as part of its broader housing agenda.