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The Financial Services Council (FSC) has categorically rejected the idea of allowing people to use their superannuation balances for a first home deposit:
Jane Macnamara, said that when the proposals being put forward were closely examined they simply did not “stack up” and ran the risk of artificially inflating house prices…’
[Macnamara] said that while, at first blush, the superannuation for housing proposal looked attractive there was a “mountain of research demonstrating that giving first home buyers more money simply increases house prices”.
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.