‘Accessing superannuation is not the silver bullet to solving Australia’s housing crisis,’ the Association of Superannuation Funds of Australia warns.‘Accessing superannuation is not the silver bullet to solving Australia’s housing crisis,’ the Association of Superannuation Funds of Australia warns.Young couples would struggle to scrape together a 20% deposit for a home in Sydney or Melbourne even if they were allowed to completely drain their super, new research by super funds has revealed.
In Brisbane and Adelaide the top 30% of couples aged 30 to 34 could achieve a 20% deposit on an apartment by draining their super, while the top 10% of couples aged 25 to 29 years old could do the same. “Overall, the data suggests that an early release of superannuation measure would largely be used by the minority with higher superannuation balances, a group who often achieve home ownership in any event.”
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