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{{propApi.successMessage}} {{region}} Change locationInquiry into Financing for First Home Buyers long overdue
Inquiry into Financing for First Home Buyers long overdue
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“Over the last two decades the rate of home ownership has declined and is at worrying levels. This is particularly concerning for those under 40, with the home ownership rate of 30–34 year old’s currently less than 50 per cent and those aged 25–29 just 36 per cent.
“This reinforces that it has become increasingly difficult, if not impossible in most circumstances, for young Australians to get into home ownership. The situation places further pressures on the rental market and subsidised housing options which is not a sustainable housing model for Australia.”
“HIA recently called out the need for a policy reset to prioritise housing supply across all forms of housing so as to put downward pressure on housing affordability and rental prices.
“We need to equally have appropriate and proportional financial and lending regulations that look to support not impede people to access finance for housing and home ownership.
“Housing preferences and the expectations that people have for their housing have changed in response to the scarcity of housing and rising costs, however the ‘Australian Dream’ of owning your own home remains. We should expect our institutions to better serve the aspirations of individual Australians.
“Previous polling conducted for HIA found that 81 per cent of Australians believe that everyday Australians should be able to own their own home. The research found that 92 per cent of renting households aspire to own their own home, yet only 49 per cent of these households feel that they will achieve this aspiration.
“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.
“Given the current housing challenges, HIA believes that when it comes to getting first home buyers into a home, all options need to be on the table and ensuring housing policies can respond to changes in a timely way should be the basis for all Government actions that influence the housing market.
“Therefore, we are looking for this Inquiry to identify those financial and regulatory impediments that are holding back young Australians and identify new measures to ensure that home ownership can remain an achievable goal for everyday Australians” concluded Ms Martin.
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Detached house approvals picking up
“There were 9,490 detached homes approved in the month of April 2025, up by 3.3 per cent compared to the previous month,” stated HIA Senior Economist Maurice Tapang.
State Budget is a missed opportunity to stimulate housing
The Treasurer has handed down the 2025/26 Tasmanian Budget. The Budget focuses on alleviating cost of living pressures, health, education and infrastructure, while mapping out a path to a fiscal balance surplus in 2032/2033.
HIA supports bipartisan approach to planning reform NSW
“The NSW planning system has failed to deliver the number of homes we desperately need and we fully support removing the politics from housing, to address this growing crisis,” said Brad Armitage, HIA Executive Director NSW.
Opposition pledge to remove stamp duty for first home buyers welcomed (Vic)
The Victorian Opposition’s announcement that it would remove stamp duty for first-home buyers spending up to $1 million on a new or existing home if elected at next year’s state election, is a positive step towards improving home affordability,” says Steven Wojtkiw, HIA Victoria Deputy Executive Director.