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“Access to finance for a deposit is the biggest obstacle for Australians trying to buy their first home, especially those paying rent while saving for their deposit.
“This scheme builds on the many positive home ownership schemes now in place to support first home buyers achieve their aspiration to own a home.
“It means that funds that are available to Australians via their super can be accessed to get their foot on the home ownership ladder.
“When the house is sold they can put the money back into their retirement fund with a proportion of the capital growth in value of their home.
“They are effectively borrowing from themselves.
“Owning your own home is the best form of security for your future retirement. This scheme is a responsible, well thought out plan to ensure that the equity Australians hold in their super can be used effectively to ensure they own their home now and in retirement, and at the same time retain a managed approach to financial security.
“HIA’s research earlier this year showed that Australians believe owning their own home is more important in helping them in retirement than their superannuation. People who retire owning a home are much more likely to be financially secure in their retirement.
“The extension to the downsizer scheme is also welcome,” concluded Mr Wolfe.
The Victorian Housing Industry Association (HIA) takes this opportunity to make a submission ahead of the 2026-27 State Budget.
“Access to skilled labour deteriorated further, across almost all regions and all trades, as the number of homes under construction grew in the March quarter this year,” stated HIA Senior Economist Tom Devitt.
Industry was recently advised that a preview of NCC 2025 was published, and will be available for adoption from 1 May 2026.
Saturday 25 April is Anzac Day and is an observed public holiday. In addition, Monday 27 April has also been gazetted as a public holiday in NSW and the ACT this year.