The federal Opposition has suggested dipping into superannuation funds early so more people can buy a home. However, data shows this could worsen housing affordability.
Early access to superannuation will not help more Australians buy their first home but could instead exacerbate the housing crisis, new research has found. Young Australians are increasingly locked out of the market. One-third of households under 35 owned their home between 2019 and 2020, a drop from 48 per cent in 1994.
said the scheme was more likely to benefit high-income earners and could potentially grant them higher borrowing capacity. This could in turn push up bids and affect housing prices.
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