Additional Help for Home Buyers: Morrison | Liverpool City Champion

The Morrison government aims to help more than 4,600 Australians buy their first homes through its home guarantee program.

But Labor was quick to point out that this was just a “re-donation” of a previous announcement.

The program helps first-time buyers and single-parent families access their own homes earlier with a down payment of just 5% or 2% respectively.

Under this program, the government will reissue up to 4,651 unused collateral for first-time home buyers from fiscal year 2020/21 who have not had the opportunity to purchase their first home, for reasons such as as disruption related to COVID.

“We want more first-time home buyers to access the place of their dreams,” said Prime Minister Scott Morrison.

“The pandemic and lockdowns have disrupted the plans of many homebuyers this year, so it’s about ensuring that we give thousands more families the opportunity they need. “

Housing Minister Michael Sukkar said that, coupled with HomeBuilder and the first home savings scheme, more than 300,000 Australians have been helped homeownership.

This includes nearly 60,000 Australians through the Home Guarantee Program.

“The Morrison government will continue to offer Australians who have this aspiration to go and buy a house, the opportunity to go and get it,” Sukkar said.

But opposition leader Anthony Albanese said the prime minister was only “giving back” his support to the housing market.

“Once again he claims there is something new. He is a prime minister who only makes announcements, not deliveries,” he told reporters in Sydney.

However, the country’s banks, which help run the program, quickly backed the announcement.

Rachel Slade, a senior executive at National Australia Bank, said the program had helped thousands of Australians buy homes sooner than they thought possible.

“This year’s price hikes have made it more difficult for many Australians to enter the housing market, which is why support measures like these are so important,” she said.

Commonwealth Bank of Australia Home Banking Executive Managing Director Michael Baumann agreed that supporting clients with innovative lending solutions will help them move up to the ownership ladder.

Property Council of Australia chief executive Ken Morrison said the initiative will help spur new home construction, which will lay the groundwork for a strong economic recovery after a two-year pandemic.

Associated Australian Press

Comments are closed.