Builders back moves to boost home ownership

Master Builders Australia has signalled approval of the recent federal government announcement to expand housing programs that are helping more people to own their first home 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,” said Denita Wawn, CEO of Master Builders Australia.

“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 home ownership. We want to this measure passed by the parliament without delay,” 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.

“With every $1 spent in building new housing resulting in $3 benefit for the wider economy, it is clear why the federal government’s measures are having such a strongly positive effect,” Wawn said.

Image credit: ©stock.adobe.com/au/adrian_ilie825