The Federal Government has announced the expansion of housing programs that are helping more people to own their first home provides and strengthening economic recovery.
“The release of 30,0000 new places in the highly successful First Home Loan Deposit Scheme, New Home Loan Guarantee and the Family Home Guarantee will boost the economic security of thousands more people, including single parents, and continue to accelerate the recovery,” Denita Wawn, CEO of Master Builders Australia said.
“We know that the deposit gap is the greatest barrier to people owning their first home. Right around the country we are witnessing the success of the Government’s housing policy measures to help people to bridge this gap,” she said.
“The Family Home Guarantee will mean that thousands of single custodial parents, the vast majority of whom are women, can access the life-changing benefits of homeownership. We want to this measure passed by the Parliament without delay,” Denita Wawn said.
“Providing more people with the support to make the step up to owning a home is also fundamental to a stronger economy which benefits the whole community,” she said.
“Lifting the price caps for these schemes will also make them more accessible to more people and that’s a very good outcome,” Denita Wawn said.
“With every 1 dollar spent in building new housing resulting in 3 dollars benefit for the wider economy, it is clear why the Federal Government’s measures are having such a strongly positive effect,” Denita Wawn said.