Coalition considers proposal to let first-home buyers use superannuation
Shadow Housing Minister Andrew Bragg is floating a proposal to allow Australians to use superannuation to help buy their first home, ABC News Australia reports. The Coalition is still developing its housing policy. The supplied material does not state the amount allowed, eligibility rules, timing or the party’s final position.
Shadow Housing Minister Andrew Bragg is proposing that Australians be allowed to use superannuation to make it easier to purchase a first home, according to ABC News Australia. The idea is being considered as the Coalition works through its policy on helping people enter the housing market. The supplied material does not say whether the proposal has been formally adopted or whether it represents the position of the wider Coalition.
No details are provided about how much superannuation could be accessed, who would qualify or whether the money would have to be repaid. The source also gives no timetable for a policy announcement. The proposal is therefore at the stage of being floated during the Coalition’s policy development process.
The available report contains no assessment of its likely effect on home ownership, retirement savings or house prices.
This independently written report is based on information supplied by the named publisher. Vertrix News has not independently verified the source report.