Government first homebuyer grants may have helped to push up property prices. Find out how here👇
Australian first homebuyer grants and concessions may have done more to benefit existing homeowners rather than help first time buyers enter the market, a new report has found.
The schemes, costing billions of dollars in taxpayer money, were found to benefit households already in a position to buy by bringing forward purchasing and making demand even greater.In contrast, households with limited access to home ownership were further excluded as competition from buyers pushed up property prices and made housing less affordable.
The study compared first homebuyer programs in Australia with those in Canada, Finland, Germany, Ireland, the Netherlands, Singapore and the UK. their housing market competitors: established homeowners and would-be rental investors,” Dr Martin said.“Current Australian first homebuyer assistance measures primarily act to bring forward first
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