The government's first home buyer deposit scheme is growing. But what if you cannot find an affordable home to buy?

  • 📰 abcnews
  • ⏱ Reading Time:
  • 29 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 83%

Property Property Headlines News

Property Property Latest News,Property Property Headlines

Both the government and Labor agree that expanding the first home loan deposit scheme is one way to help people buy their own home, but some experts are worried it might address a symptom, not the cause, of soaring house prices.

Finding ways to help more people buy their own home has been a political challenge for decades.

However, some industry experts are worried that, while it might help address a symptom of rising house prices — the need for ever-larger deposits — it won't do anything to address the bigger problem.The biggest challenge most home-buyers face in trying to buy their own place is saving for a deposit. The scheme tries to reduce that burden, by allowing first home buyers to purchase with just a 5 per cent deposit, while the federal government acts as a guarantor for the other 15 per cent, allowing a lender to approve the loan without the need for LMI.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

AlboMP says he can make homes more affordable without making house prices rise or fall - can someone ask him or JEChalmers how they plan to do this? Sick of their smug claims they will fix everything without back up evidence

Only a band aid solution to the housing crisis. Gov't need to invest in low income housing, so people can afford to rent.

stuck between a brick and a hard place.

If we tighten access to credit for investors & house prices stabilise, what’s the problem?

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in PROPERTY

Property Property Latest News, Property Property Headlines