With the federal election set for 3 May, housing has quickly become a central focus for both major parties. After months of limited discussion on affordability, new policy announcements have pushed the issue into the campaign spotlight.
Labor is offering a scheme that allows first home buyers to enter the market with just a 5% deposit, backed by a government guarantee to avoid extra insurance costs. They’re also promising $10 billion to deliver 100,000 homes reserved for first home buyers, forming part of a wider goal to build 1.2 million homes.
The Coalition, on the other hand, wants to let first-time buyers of new properties claim mortgage interest on loans up to $650,000 as a tax deduction, potentially saving families thousands. Their plan also includes a $5 billion infrastructure fund aimed at freeing up land and enabling the construction of 500,000 new homes.
About the writer
Ian Pepper has had a long and distinguished career as a finance and real estate professional. Originally trained as a Chartered Accountant in 1995, Ian worked in Sydney and London. He has an MBA from Macquarie Graduate School of Management and now sells real estate with Ray White Helensburgh. Ian also volunteers with local community groups including school P&Cs, sporting clubs and business chambers.
Ian is a regular advertiser in the Illawarra Flame.
