She also echoed concerns about expanding the scheme.
"If APRA does in fact remove this floor, some people will be able to borrow more and some will take advantage of that and that will help, but that is not a substitute for lower interest rates," he said.This is not the first election where first home buyers have been singled out. As early as 1918, the government was helping ex-service personnel get into the market with low-interest loans.
In 1976, Malcolm Fraser reintroduced and boosted the home deposit assistance grant. In 1983, Bob Hawke replaced it with an even bigger grant before scrapping it in 1990.
Why was this not made common knowledge before the election.. because the opposition and media focus to much on what Labor is doing throwing focus on Labor policies and nothing about their own and Australian voters fall for it everytime. You get what you all asked for!!🤣
The leftist ABC back at it. Yahoo funding cuts.
jrdn54 Of course it is just a gimmick. It was a quick attempt to pretend there is a well considered policy in a Lib policy-free environment.
No real surprise here, then
Does anyone actually believe this? The policy means first home buyers can get into the market before they have 20% deposit and don't have to pay expensive mortgage insurance. This is fake news or fake 'expert' one or the other. Dumb.dumb dumb. Use basic common sence people.
Not perfect does not equal completely broken (or irrelevant), & nothing humans do is perfect, so a pragmatic person would not give up or say it is all a meaningless waste of time either. Only if you have a better idea should you abandon your current plans.
Another misleading headline. Quote taken out of context. The scheme is not so “irrelevant” for the 10,000 that will benefit from it. Don’t forget, the ALP also matched it citing “it is good policy”. auspol political_alert
The whole scheme was a con from the start, not irrelevant but a disaster waiting to happen, they will become toxic loans, think about what happened in the USA.
Vote buyer .. that’s all it was .. it will never happen .. and even if it does . it won’t fly
This article contradicts itself , falling hose prices would not help any one as first home owner will get negative equity, why abc I so biased
Everyone was warned that Coalition is irrelevant...
This article is misleading. Of course the money for the loan has to be paid back, but it's helps them avoid LMI (which doesn't need to be paid back)
New suburbs like decades before are very affordable.....Laverton, Tarneit, Coolaroo, Dallas, Roxburg Park, Campbellfield, Jacana, Sunbury, Craigieburn, Cranbourne, Frankston, South Morang and Mernda....$500k with no stamp duty for first home buyers....with all facilities.
🤣🤣🤣🤣🤣 Prepare to wait.
This was reported last week. But not by the traitors at th ABC.
Irrelevant is the best we can hope for. There are a lot of ways it could go wrong...
abcmelbourne Oh ABC. Could you have reported it this way BEFORE the election?
It's only available to the first 10000 people. And the money still has to be paid back!
Grattan institute... would have more common sense from a tarot card reading.
Of course ABC says this ... time to sell the ABC
More to prop up values for the investors.
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:
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
What the first home buyers deposit scheme means for younger voters and their budgetIt’s a last ditch attempt to woo younger voters, but will it help those struggling to break into the housing market or saddle them with too much debt? Stop building houses and polluting the earth Their political Hyde’s or trying to make offerings to the investment people ? I’d like someone to explain to me - Coalition or Labor - where that $500M liability comes from. That money comes from taxpayers. Tell me how. ‘Unlike the first home buyers grant, this is not a cash handout, the government is simply guaranteeing the loan.’
Source: SBSNews - 🏆 3. / 89 Read more »
First-home buyers using government deposit scheme to pay thousands in extra interestFirst-home buyers using the Coalition's controversial deposit scheme will pay tens of thousands of dollars in extra interest auspol | swrighteconomy swrighteconomy it's a scheme offered up by BOTH the coalition and the ALP swrighteconomy And you only pay interest on what you borrow. How biased is this article swrighteconomy ...never catch a falling knife no matter the incentive to do so; we're nowhere near the bottom - patience is a virtue...
Source: smh - 🏆 6. / 80 Read more »
'They fired the first shot': Barnaby Joyce warns Coalition at stake as Senate civil war ragesThe Nationals took the 'extraordinary' step on Wednesday of advising members to ignore Coalition how-to-vote cards and instead vote below-the-line. michaelkoziol The verdict is in . Two Angry Men for the Oscar. michaelkoziol Between the liberals and the nationals who is the good guy. Got me stumped. Is it a fight between bad and worse. michaelkoziol yes a dog fight They have been brawling on climate with d Nats obsessed on coal seats in QLD Joyce seems to think numbers in lower house n senate r more important than drought n problems in d bush
Source: smh - 🏆 6. / 80 Read more »
'They fired the first shot': Barnaby Joyce warns Coalition at stake as Senate civil war ragesFederal election: Former Nationals leader Barnaby Joyce has warned the coalition between the Liberals and Nationals is at stake as a civil war erupts over Senate voting just days before the election Barnaby still has it. The ability to have another LNP own goal. The Nationals going solo would be a good move - they'd get less votes than the Let'sbringinmoredangerousmigrants Party You're supposed to backstab the leader AFTER you take the Iron Throne. Classic Baratheon Barnaby.
Source: theage - 🏆 8. / 77 Read more »
NZ indicates PM's home deposit plan will suit a ‘niche’ market | Sky News AustraliaAs Prime Minister Scott Morrison defends his first home buyers plan, experts are shedding light on how a similar scheme has been working in New Zealand. \n \nOne mortgage broker has told Sky News that a policy, which has been in place since 2003, has had a ‘lukewarm’ response, with just 10 per cent of first home buyers using the scheme. \n\nCraig Pope says it fills a ‘niche’ group of people: those unattractive to the banks but who can fulfil their repayment obligations. \n\nWhile the scheme in New Zealand requires a 10 per cent deposit, the plan announced by Mr Morrison, and backed by Labor, would allow first home buyers to purchase a house with just a five per cent deposit. \n\nImage: News Corp Australia \n\n\n It works in New Zealand, but has low numbers using it due to the overpriced housing market and unrealistic expectations of firsthomebuyers
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Labor’s move to ‘copy’ home deposit plan proof of quality: Frydenberg | Sky News AustraliaFULL INTERVIEW: Treasurer Josh Frydenberg has stood his ground on the Coalition’s decision to go ahead with a plan designed to crack open the housing market to first home buyers — a decision made without a tick from the government's cabinet.\n\nUnder the plan announced by the Prime Minister on Sunday, and promptly matched by Labor, first home buyers would be able to purchase their home with a deposit of just five per cent, capped at 10,000 loans per year.\n\nMr Frydenberg told Sky News on Wednesday that ‘it’s obviously good enough for the Labor Party to copy without even seeing the full details.’\n\nImage: News Corp Australia \n\n\n\n\n\n\n\n JoshFrydenberg It must be a good policy or otherwise Labor would not have said they would do it also JoshFrydenberg Not only Morrison but now Frydemburg start making coalition policy alone without cabinet approval. A party in complete chaos and disarray. JoshFrydenberg AustralianLabor have not got a single original thought policy. They copy everything. EV policy copied from Norway. Climate policy from the UN. Other policies from socialist manifesto including higher taxes. ausvotes
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Buyer beware: Wendy Whiteley warns art collectors of fake paintingsIn the wake of yet another art scandal, the former wife of artist Brett Whiteley wants buyers to “check the history of the work as best as you can'.
Source: smh - 🏆 6. / 80 Read more »
Australia one step closer to sex offender ‘name and shame’ list after Coalition’s shock victoryAustralia has now moved closer to establishing a national public sex offender register, which will publicly shame paedophiles and share their information after the Coalition's shock election victory. auspol Great news ☝️ This very good and also include putting thieves online to be shamed and allow shop owners to show CCTV of them stealing. This can deter theft and help stop a thief before steals from a shop or person. Let's hope HumanHeadline gets the credit here he deserves if it actually happens
Source: newscomauHQ - 🏆 9. / 77 Read more »
The best way to help first-home buyers? Let prices fallThe Coalition is still pretending you can help people become owner-occupiers without hurting anyone. Labor isn’t. you speak with a forked tongue JohnDaley_BrendanCoates Demand for housing must come down. You can do that only be reducing immigration to e.g. 70 K pa. That would also stop congestion getting worse. Again the GrattanInst has not dared to propose slaughtering Australia's holy cow So what happens when they invest their deposit and prices cont to fall? Bankruptcies? Imbeciles
Source: smh - 🏆 6. / 80 Read more »
Why I spent my house deposit on a trip insteadWhen it comes to saving for a house, parents have been nagging their kids for years to cut back on luxuries to save for a deposit.
Source: newscomauHQ - 🏆 9. / 77 Read more »
Major Adelaide development scrapped after long wait for buyersA $40 million property development in Adelaide — which was spruiked as a new benchmark for energy and sustainability — has been scrapped after apartments sat on the market for more than 18 months. how can it be energy efficient when they just slap floor to ceiling glass panels Glass is poor insulator LiberalSAHQ On. Your. Watch.
Source: abcnews - 🏆 5. / 83 Read more »