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“The ‘MyHome’ program assists people to help build or buy their own home, with as little as two per cent deposit.
“HIA is pleased to see the expansion of the scheme which was called for in our pre-budget submission this year, including that the household income limit in the program being increased by 25 per cent to $116,933 for a single and $134,475 for a couple.
“HIA has in the past supported similar shared equity schemes, Western Australia’s ‘Keystart’ program is one good example proven to be highly effective in helping more Australians into home ownership sooner.
“While the opportunity to own a home can be challenging, and the type of homes many families aspire to are changing shape, previous research conducted shows an overwhelming majority of Australians agree that home ownership matters.
“Programs such as ‘MyHome’ and other forms of housing incentive schemes, are critical to boost housing supply.
“This program is not a silver bullet to the myriad of problems but it does go some way to help ease the problems new homebuyers encounter, in terms of securing finance to buy a home.
“HIA research shows there is still a steadfast desire for people to buy their own home, however, the surveys also show many think it is an unachievable dream.
“HIA continues to promote and support measures to assist more Tasmanians into housing and increasing supply across the state,” concluded Mr Collins.
The Northern Territory Government has recently introduced changes to payroll tax which will commence on 1 July 2025.These changes will impact the way payroll tax is calculated and will provide benefits to eligible employers, particularly small-to-medium sized businesses.
The Housing Industry Association has today welcomed the Coalition’s announcement that, if elected, it will direct the financial regulator to revise lending rules that are locking Australians—particularly first home buyers—out of the housing market.
“Today’s announcement by the NSW Government to publish the State Agency League Table is welcomed by the Housing Industry Association.