Will Labor’s major expansion to first-home guarantee scheme ‘drive prices higher’?
by Patrick Commins Economics editor from on (#6ZHPZ)
Treasury estimates new policy will only add 0.5% to home prices over six years, but some experts disagree
Get our breaking news email, free app or daily news podcast
Labor's major new expansion to the home guarantee scheme will help first-time buyers who would have bought anyway, experts say, and is likely to push prices higher.
The scheme, which has been around since 2020, helps eligible first-time buyers get into the market with a deposit of as little as 5%, without the need to pay tens of thousands in lender's mortgage insurance and taking years off the time required to save for a deposit.
Continue reading...