It’s becoming hard keeping up with the Turnbull Government’s housing affordability gimmicks. So far, we have received indications that the Coalition may include in the May Budget the following measures:
- Allowing first home buyers (FHBs) to access their superannuation for a housing deposit;
- Giving APRA the power to adjust the rules governing how easily banks can lend to investors each month – just as the Reserve Bank does;
- Allowing retirees to downsize without affecting the assets test for the Aged Pension or their superannuation limits;
- Commonwealth-supported ‘shared equity’ mortgage scheme;
- Restricting the amount of off-the-plan homes that can be purchased in a development by foreign buyers (despite strongly supporting foreign investment into new homes); and
- A bond aggregation scheme aimed at boosting affordable housing.
