Tim Wilson is one of several Liberal MPs arguing that Australians should be able to access their superannuation to pay a housing deposit.
However, the Labor-aligned McKell Institute has slapped down the proposal in a new report, claiming it would send prices soaring:
We assume that the effect of any policy to allow early super release would cause a one-off effect, by bringing forward the purchase decision of private renters who are already saving for a deposit. The model is estimated on quarterly data and therefore provides predictions on that basis. We assume that an increase in lending would cause prices to increase for 4 successive quarters, after which all private renters currently saving but able to buy earlier than planned will have done so.
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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.
