State government to fund 40% of purchase for single parents, older singles, nurses, police and teachers
said it would form part of a broader reform package announced in this week’s budget.
“It’s part of a suite of measures and we know housing affordability is a real challenge for families across our state,” he said. “Whether you are in the city or the bush, we want to make sure you have that opportunity get into a home to provide the stability and opportunity for you and your family and that’s what this is all about.”The Property Council of Australia said it was a “strong commitment” to help Australians buy homes.
“The emphasis on assisting some of the state’s most vulnerable people through this assistance program is a well-intentioned endeavour,” the council’s NSW executive director, Luke Achterstraat, said. “For many Australians, their home is their most valuable financial asset so housing security can create financial security.”, the Australian Housing and Urban Research Institute said they can provide a “niche solution for a select clientele of lower income householders” if designed well.
“They have to be targeted towards households with incomes that are high enough to pay the low mortgage but not so high that they could afford a commercial housing loan,” the briefing said. “The maximum house prices the schemes can pay for need to be kept low so as not to adversely stimulate demand in the housing market and push up house prices.”
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