Economists warn that leveraging extra cash from pension balances into housing will push up mortgage debt – and the market.
Letting prospective buyers tap $40,000 of superannuation would push up housing prices, with the median price in Sydney rising by $45,000 and by almost $100,000 in Brisbane, independent modelling shows.the Coalition’s super for housing proposal unveiled over the weekend
Stepping into home ownership: Tapping super will cut first home buyers’ pension balances and increase their mortgage debt, McKell Institute analysis shows.In Sydney, the median price would rise $45,342 and in Hobart it would gain $57,413, but the effect will be much greater in the other cities, with Brisbane’s median rising by $99,346, Hobart by $92,796 and Adelaide by $84,543, the think tank’s report says.
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