It’s getting even harder to buy a home.
Up to forty per cent of first home buyers were priced out of the property market even before the latest surge in house values, the Sydney Morning Herald reported yesterday.
A report by CoreLogic released yesterday reveals house prices are rising at the fastest pace in 32 years, making it even harder for first home buyers to get into the market.
The HomeBuilder Scheme has helped, but it is temporary help.
The scheme ended this week, and some homebuyers who have lodged their application are unsure if they’ll get the grant due to significant delays and price increases of building supplies.
Under the current rules, if construction does not commence within six months of signing the contract, the homeowner who applied for the grant is not entitled to it.
That’s why Labor is calling on the Government to extend the HomeBuilder Scheme’s construction commencement timeframe from six to twelve months.
This will help ease the pressure on builders and sustain work for the housing construction industry next year when it is expected to drop off.
There is no simple or single solution to improving housing affordability, but it does require leadership from the Federal Government.
That includes the development and implementation of a National Housing and Homelessness Plan that
- Helps more Aussies buy a home,
- Helps Australians who rent, and
- Helps put a roof over the head of more homeless Australians.
Housing industry experts have been calling for this for years, but the Coalition Government has refused to act, saying this is mainly the responsibility of state governments.
It is not. It is all our responsibility.
That’s why at this week’s ALP Special Platform Conference, Labor committed to developing a National Housing and Homelessness Plan in government.
FRIDAY, 2 APRIL 2021
MEDIA CONTACT: ARLEY BLACK 02 9790 2466