Just days after the Grattan Institute proposed a shared equity scheme, the NSW Government has flagged a scheme of its own which economists have labelled a “band-aid solution”:
Under the plan, first-time buyers would receive a contribution from the state government for their housing deposit in return for equity in the property. This would be repaid in instalments or when the property is sold. Full details are yet to be announced including eligibility requirements, price thresholds and whether there will be a cap on the amount the government will contribute.
So, will it help?
