Labor Party

Speaking to reporters on Tuesday morning, Albanese said that he was proud of his Labor Party's economic record, adding that he "delivered responsible economic management".

The warning came on the same day Albanese's ruling Labor Party announced costing plans.

Both the Labor Party and the Liberal-National coalition accept there is a crisis, but blame each other for it.

With less than a month until the federal election, housing remains among the top issues for voters, and the country's two major parties – the Labor Party and the Liberal-National Coalition - have both pledged to tackle the crisis in a range of ways.

Opinion polls have predicted a slim margin between Albanese's Labor Party and Dutton's Liberal Party, and the possibility that either will need to form the next government with independent MPs or minor parties.