Latest news with #Everybody'sHome
The Australian
23-04-2025
- Business
- The Australian
Aussies are turning their back on the super for housing policy
Younger Aussies want practical solutions to the housing market, believing policy announcements will just drive property prices higher. Mitchell, a 26-year old renter working in the IT department told NewsWire the price of housing has skyrocketed in the last few years, pricing him out of the area where he grew up. 'There were a few times in my life I considered buying a house. One was in 20219 pre-pandemic when I was looking to go in with a mate to get a ground floor unit. 'Then I had a dream of being in the Sunshine Coast where I grew up and the plan was always to settle down and go back there. 'The plan was to turn 30, settle down and go back there. But you can't find anything for under $800,000-900,000.' 'Where it is now, I don't even think about it.' Young Australians want practical solutions to the housing crisis. Picture: NewsWire / Max Mason-Hubers He believes the current policy by the Coalition will just drive house prices higher while ruining younger Aussies' chance at retirement. 'Personally I think it's just kind of doing two bad things at the same time,' Mitchell said. 'The main problem I have with these policies is they help one person at one time but then make it worse for everyone else by driving up the price. 'If everyone at the auction has access to this $50 grand then the house goes up, but this policy also means first home buyers burn their retirement. The Coalition flagship housing policy will give first home buyers the choice to access up to $50,000 from their super towards a deposit to buy their first home. Under the scheme, the $50,000 can be initially withdrawn from super but would need to be returned when the house is sold. Mitchell is not alone with survey results by Everybody's Home showing 76 per cent of respondents opposed allowing first home buyers to access $50,000 from their superannuation for a house deposit. According to the results respondents believe the policy will just inflate house prices as well as see their superannuation savings diminish. Everybody's Home spokesperson Maiy Azize said people across the country are seeing through the Coalition's super for housing proposal. 'Voters know Super for Housing could pour fuel to the flames of an already overheated housing market,' Ms Azize said. 'Using superannuation for housing deposits is unfair, and does nothing to build more affordable homes. Instead, it robs people of their retirement savings and drives up house prices for everyone else.' Everybody Home say the number of renters are on the rise. Picture: NewsWire / Max Mason-Hubers She said Australians want greater structure reforms over policies that only help a select few. 'We need greater investment in social housing, better protections for renters, and an end to tax breaks for property investors.' 'A growing number of Australians are renting and more than 640,000 people are experiencing rental stress or housing insecurity. These aren't just numbers - they are real people who are almost entirely missing from the current election debate. Academics, inducing the University of South Australia the super-for-housing policy would just drive prices up 7 to 10 per cent. 'It is an uncontroversial finding – if you add demand to an inelastic market, prices are going to rise, with the unintended consequence of making housing less affordable' study author Chris Leishman said. Opposition Leader Peter Dutton said that concern would be addressed by the Coalition's major 'supply side' policy including 500,000 new homes by investing in essential infrastructure, setting a target of 400,000 new apprentices to build houses and reduce migration. Mitchell called on both parties to commit to policies that will actually help the housing market. 'I would say, think of your kids, but they, you know, they probably got their own bank of mum and dad thing going on,' he said. 'But, think of future generations, you know, think of the country that you grew up in, and don't you want everyone else to have that chance as well.'
Sky News AU
23-04-2025
- Business
- Sky News AU
Aussies are turning their back on the super for housing policy
Younger Aussies want practical solutions to the housing market, believing policy announcements will just drive property prices higher. Mitchell, a 26-year old renter working in the IT department told NewsWire the price of housing has skyrocketed in the last few years, pricing him out of the area where he grew up. 'There were a few times in my life I considered buying a house. One was in 20219 pre-pandemic when I was looking to go in with a mate to get a ground floor unit. 'Then I had a dream of being in the Sunshine Coast where I grew up and the plan was always to settle down and go back there. 'The plan was to turn 30, settle down and go back there. But you can't find anything for under $800,000-900,000.' 'Where it is now, I don't even think about it.' He believes the current policy by the Coalition will just drive house prices higher while ruining younger Aussies' chance at retirement. 'Personally I think it's just kind of doing two bad things at the same time,' Mitchell said. 'The main problem I have with these policies is they help one person at one time but then make it worse for everyone else by driving up the price. 'If everyone at the auction has access to this $50 grand then the house goes up, but this policy also means first home buyers burn their retirement. The Coalition flagship housing policy will give first home buyers the choice to access up to $50,000 from their super towards a deposit to buy their first home. Under the scheme, the $50,000 can be initially withdrawn from super but would need to be returned when the house is sold. Mitchell is not alone with survey results by Everybody's Home showing 76 per cent of respondents opposed allowing first home buyers to access $50,000 from their superannuation for a house deposit. According to the results respondents believe the policy will just inflate house prices as well as see their superannuation savings diminish. Everybody's Home spokesperson Maiy Azize said people across the country are seeing through the Coalition's super for housing proposal. 'Voters know Super for Housing could pour fuel to the flames of an already overheated housing market,' Ms Azize said. 'Using superannuation for housing deposits is unfair, and does nothing to build more affordable homes. Instead, it robs people of their retirement savings and drives up house prices for everyone else.' She said Australians want greater structure reforms over policies that only help a select few. 'We need greater investment in social housing, better protections for renters, and an end to tax breaks for property investors.' 'A growing number of Australians are renting and more than 640,000 people are experiencing rental stress or housing insecurity. These aren't just numbers - they are real people who are almost entirely missing from the current election debate. Academics, inducing the University of South Australia the super-for-housing policy would just drive prices up 7 to 10 per cent. 'It is an uncontroversial finding – if you add demand to an inelastic market, prices are going to rise, with the unintended consequence of making housing less affordable' study author Chris Leishman said. Opposition Leader Peter Dutton said that concern would be addressed by the Coalition's major 'supply side' policy including 500,000 new homes by investing in essential infrastructure, setting a target of 400,000 new apprentices to build houses and reduce migration. Mitchell called on both parties to commit to policies that will actually help the housing market. 'I would say, think of your kids, but they, you know, they probably got their own bank of mum and dad thing going on,' he said. 'But, think of future generations, you know, think of the country that you grew up in, and don't you want everyone else to have that chance as well.'
News.com.au
23-04-2025
- Business
- News.com.au
‘Don't think about it': Housing dream slips away
Younger Aussies want practical solutions to the housing market, believing policy announcements will just drive property prices higher. Mitchell, a 26-year old renter working in the IT department told NewsWire the price of housing has skyrocketed in the last few years, pricing him out of the area where he grew up. 'There were a few times in my life I considered buying a house. One was in 20219 pre-pandemic when I was looking to go in with a mate to get a ground floor unit. 'Then I had a dream of being in the Sunshine Coast where I grew up and the plan was always to settle down and go back there. 'The plan was to turn 30, settle down and go back there. But you can't find anything for under $800,000-900,000.' 'Where it is now, I don't even think about it.' He believes the current policy by the Coalition will just drive house prices higher while ruining younger Aussies' chance at retirement. 'Personally I think it's just kind of doing two bad things at the same time,' Mitchell said. 'The main problem I have with these policies is they help one person at one time but then make it worse for everyone else by driving up the price. 'If everyone at the auction has access to this $50 grand then the house goes up, but this policy also means first home buyers burn their retirement. The Coalition flagship housing policy will give first home buyers the choice to access up to $50,000 from their super towards a deposit to buy their first home. Under the scheme, the $50,000 can be initially withdrawn from super but would need to be returned when the house is sold. Mitchell is not alone with survey results by Everybody's Home showing 76 per cent of respondents opposed allowing first home buyers to access $50,000 from their superannuation for a house deposit. According to the results respondents believe the policy will just inflate house prices as well as see their superannuation savings diminish. Everybody's Home spokesperson Maiy Azize said people across the country are seeing through the Coalition's super for housing proposal. 'Voters know Super for Housing could pour fuel to the flames of an already overheated housing market,' Ms Azize said. 'Using superannuation for housing deposits is unfair, and does nothing to build more affordable homes. Instead, it robs people of their retirement savings and drives up house prices for everyone else.' She said Australians want greater structure reforms over policies that only help a select few. 'We need greater investment in social housing, better protections for renters, and an end to tax breaks for property investors.' 'A growing number of Australians are renting and more than 640,000 people are experiencing rental stress or housing insecurity. These aren't just numbers - they are real people who are almost entirely missing from the current election debate. Academics, inducing the University of South Australia the super-for-housing policy would just drive prices up 7 to 10 per cent. 'It is an uncontroversial finding – if you add demand to an inelastic market, prices are going to rise, with the unintended consequence of making housing less affordable' study author Chris Leishman said. Opposition Leader Peter Dutton said that concern would be addressed by the Coalition's major 'supply side' policy including 500,000 new homes by investing in essential infrastructure, setting a target of 400,000 new apprentices to build houses and reduce migration. Mitchell called on both parties to commit to policies that will actually help the housing market. 'I would say, think of your kids, but they, you know, they probably got their own bank of mum and dad thing going on,' he said. 'But, think of future generations, you know, think of the country that you grew up in, and don't you want everyone else to have that chance as well.'
West Australian
23-04-2025
- Business
- West Australian
‘Don't think about it': Housing dream slips away
Younger Aussies want practical solutions to the housing market, believing policy announcements will just drive property prices higher. Mitchell, a 26-year old renter working in the IT department told NewsWire the price of housing has skyrocketed in the last few years, pricing him out of the area where he grew up. 'There were a few times in my life I considered buying a house. One was in 20219 pre-pandemic when I was looking to go in with a mate to get a ground floor unit. 'Then I had a dream of being in the Sunshine Coast where I grew up and the plan was always to settle down and go back there. 'The plan was to turn 30, settle down and go back there. But you can't find anything for under $800,000-900,000.' 'Where it is now, I don't even think about it.' He believes the current policy by the Coalition will just drive house prices higher while ruining younger Aussies' chance at retirement. 'Personally I think it's just kind of doing two bad things at the same time,' Mitchell said. 'The main problem I have with these policies is they help one person at one time but then make it worse for everyone else by driving up the price. 'If everyone at the auction has access to this $50 grand then the house goes up, but this policy also means first home buyers burn their retirement. The Coalition flagship housing policy will give first home buyers the choice to access up to $50,000 from their super towards a deposit to buy their first home. Under the scheme, the $50,000 can be initially withdrawn from super but would need to be returned when the house is sold. NED-7083-Housing-price-changes Mitchell is not alone with survey results by Everybody's Home showing 76 per cent of respondents opposed allowing first home buyers to access $50,000 from their superannuation for a house deposit. According to the results respondents believe the policy will just inflate house prices as well as see their superannuation savings diminish. Everybody's Home spokesperson Maiy Azize said people across the country are seeing through the Coalition's super for housing proposal. 'Voters know Super for Housing could pour fuel to the flames of an already overheated housing market,' Ms Azize said. 'Using superannuation for housing deposits is unfair, and does nothing to build more affordable homes. Instead, it robs people of their retirement savings and drives up house prices for everyone else.' She said Australians want greater structure reforms over policies that only help a select few. 'We need greater investment in social housing, better protections for renters, and an end to tax breaks for property investors.' 'A growing number of Australians are renting and more than 640,000 people are experiencing rental stress or housing insecurity. These aren't just numbers - they are real people who are almost entirely missing from the current election debate. Academics, inducing the University of South Australia the super-for-housing policy would just drive prices up 7 to 10 per cent. 'It is an uncontroversial finding – if you add demand to an inelastic market, prices are going to rise, with the unintended consequence of making housing less affordable' study author Chris Leishman said. Opposition Leader Peter Dutton said that concern would be addressed by the Coalition's major 'supply side' policy including 500,000 new homes by investing in essential infrastructure, setting a target of 400,000 new apprentices to build houses and reduce migration. Mitchell called on both parties to commit to policies that will actually help the housing market. 'I would say, think of your kids, but they, you know, they probably got their own bank of mum and dad thing going on,' he said. 'But, think of future generations, you know, think of the country that you grew up in, and don't you want everyone else to have that chance as well.'
Daily Mail
23-04-2025
- Business
- Daily Mail
Huge change to super that no Aussie wants as Peter Dutton is dealt a brutal blow to policy promise
Peter Dutton 's plan to allow first home buyers to access $50,000 from their super has proved unpopular with a new poll showing three-quarters of Australians opposed. The Opposition Leader made accessing retirement savings a keynote announcement at the Liberal Party's campaign launch in south-west Sydney. 'We will allow Australians to access up to $50,000 of their super towards a deposit for their first home,' he said. 'Your super is your money – not the government's.' But a new survey from housing welfare group Everybody's Home found 75.68 per cent were opposed to the idea of allowing Australians to withdraw super from compulsory employer contributions. Report author Maiy Azize said the Liberal Party's policy would only worsen the housing affordability crisis by pushing up house prices. 'Critics argue that it will do little to ease housing stress, while risking long-term harm to retirement savings and pushing prices even higher in an already overheated market,' she said. Economist Saul Eslake, the principal of Corinna Economic Advisory, told Daily Mail Australia the Liberal Party's plan to allow early access to super would simply push up property values. 'The idea that you can take up to 40 per cent of your superannuation savings - up to a maximum of $50,000 - and put that towards the purchase of a home, will inevitably result in people taking out bigger mortgages than they otherwise would,' he said. 'This will result in higher house prices, which will be to the benefit of those who already own homes and the disadvantage of those who don't.' Everybody's Home found a similar sentiment among Aussies surveyed about the Liberal Party's early access to super policy, with three-quarters of respondents saying they were 'extremely concerned' or 'very concerned' about it. 'Many respondents indicated that the scheme would not solve the root causes of Australia's affordability crisis,' it said. 'Some suggested it would simply add more money into an already overheated market, driving up prices rather than easing them. 'It is not simply a matter of preserving super balances, but a broader recognition that housing affordability will not be fixed through individual withdrawals from retirement savings.' The Opposition is also proposing to allow first home buyers to claim interest repayments on tax - on the first $650,000 of their mortgage for five years - provided it is a brand new property and they are owner-occupiers. It will be available for individuals earning up to $175,000 and for couples on a joint income of $250,000 at the time they are approved for the tax deduction scheme. The Opposition's housing spokesman Michael Sukkar argued this would help turn renters into home owners. 'We know there are a couple of really big challenges for first-home buyers - they can't service a mortgage and therefore they can't get finance; and the deposit hurdle is too high,' he told the ABC's Insiders program on Easter Sunday. 'Our plan is the only plan that seeks to address both and not by providing them a grant but by giving them some of their own tax back. 'Being able to put that on the repayments on their mortgage gets them through that difficult period and is ultimately going to convert Australians from renters into home owners.' Labor also has policies for first home buyers, with Prime Minister Anthony Albanese announcing all property newcomers would be able to get a mortgage with a small, five per cent deposit instead of the usual 20 per cent equity. Mr Eslake, a former federal president of the Young Liberals, said first home buyer grants have been inflating house prices since Australia's longest-serving prime minister Robert Menzies introduced the first scheme in 1964. This was at the urging of future PM John Howard, who at the time was president of the NSW Young Liberals. 'We have 60 years of evidence that shows that anything that allows Australians to spend more on housing than they'd be able to results in more expensive housing and a small proportion of the population owning it,' he said. 'And this is just another example of the sort of policies that, far from solving the housing problems we've had a for a long time, have actually made them worse.' The Everybody's Home survey wasn't a scientific poll, however, based on gathering a random sample of views. The housing welfare lobby group admitted the 740 responses were drawn from 'supporters of the Everybody's Home campaign, meaning respondents were drawn from a sample that is already concerned about housing and housing affordability'. Existing laws don't allow Australians to access compulsory employer contributions to super to buy a first home, with level rising from 11.5 per cent to 12 per cent on July 1. But first home buyers can access their voluntary superannuation contributions to buy a first home under the First Home Super Saver Scheme.
