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Ms Martin’s comments come following the preliminary report from the Senate Economics Committee, who are undertaking an Inquiry into improving consumer experiences, choice, and outcome in Australia’s retirement system. The Inquiry specifically examined policy options to enable Australians to use their superannuation to assist with purchasing a home that would in turn improve retirement outcomes.
“HIA has been advocating, when it comes to getting first home buyers into a home the government should be open minded and leave all options on the table.
“It is therefore pleasing to see a number of recommendations from the Senate Committee on potential policy options that would further support first home buyers and others who may have fallen out of home ownership.
“At a time when the cost of buying a home has doubled and it is estimated to take at least an extra two years to save for a deposit on a first home, it is important governments look at different options and leave no stone unturned to ease the burden on first home buyers.
“Home ownership is the most important form of security in retirement. Superannuation is not working at its best if an individual is using super to rent in their retirement.
“But accessing superannuation for housing in itself would only serve some Australians well, other forms of housing programs are critical to the mix to boost housing supply and home ownership rates.
“The Committee recommended to allow first home buyers to access more of their super than has been previously proposed, with options for a higher maximum withdrawal cap or without a maximum threshold.
“It also adopted HIA’s other suggestions, including that:
“HIA is prepared to offer support in any way it can to ensure these measures can be adopted in full.
“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 by HIA shows an overwhelming majority of Australians agree that home ownership still matters,” concluded Ms Martin.
“The Housing Industry Association (HIA) is pleased to welcome Minister Andrew Giles to the HIA NT Skills Centre in Darwin, providing an opportunity to showcase the Northern Territory’s training pipeline and discuss the continued challenges facing the local residential building industry,” HIA Executive Director Northern Territory, Luis Espinoza, said today.
The Federal Government, through Housing Australia, has announced a third round of funding, in support of its commitment to the building of 1.2 million homes over the next 5 years.
The Housing Industry Association (HIA) today welcomed Premier Rockliff’s announcement of the Tasmanian Government’s next 100-day plan, which commits a suite of housing and planning reforms to fast-track new homes and cut red tape.
The Queensland Government recently announced the next phase of the ‘Building Reg Reno’ reforms, including various changes under the Queensland Building and Construction Commission and Other Legislation Amendment Bill 2025.