The Albanese government plans new help for entering the market but systemic change is needed to tackle housing affordability
Guarantee, a new national program to facilitate low-deposit mortgages, initially unveiled by Scott Morrison in the heat of the 2019 election campaign.
Now, following a lively debate on the topic ahead of the latest federal poll, the Albanese government plans to further broaden the approach through its new. For up to 10,000 moderate income households a year, this scheme would offer a federal contribution of up to 40% of the purchase price of a home, with government taking an equity stake in the property.
Yet this objective is in tension with the dominant theme of home ownership policy: to facilitate wealth accumulation through asset ownership.
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