Housing packages welcomed but making home ownership less affordable

Australian Property Journal –

THE Morrison government’s new initiatives to bring in more first home buyers and single parents into the housing market has been broadly welcomed by industry groups, but concerns remain about the role of low stock supply which is pumping up house prices.

Urban Taskforce Australia welcomed the “expansionary” budget but CEO Tom Forrest said extension of the First Home Owners Deposit and First Home Super Saver Scheme, along with record low interest rates, relaxation of APRA controls and the HomeBuilder grant has seen a spike in housing demand which is pushing up values.

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