Allowing first home buyers to access their superannuation is the most polarising housing affordability option, according to a recent poll. The most recent Essential poll found that ‘allowing first home buyers to withdraw a portion of their superannuation for a house deposit’ had support from 44% of those polled and… Read More »Accessing super is most polarising of housing affordability options
First home buyers accessing superannuation for housing
The idea of allowing first home buyers to access their superannuation has again been raised by members of the Coalition, though it is not supported by Labor or the superannuation industry.
Previous suggestions have involved first home buyers withdrawing superannuation to put towards a deposit. However the proposal currently receiving consideration appears to be super funds taking an equity stake in the homes of members.
Accessing superannuation for a home deposit wouldn’t help address the problem of housing affordability, says Finance Minister Mathias Cormann. Cormann, who is a member of the Expenditure Review Committee – which is also known as the ‘razor gang’ – was asked on Sky News about the recent speculation that the upcoming… Read More »Accessing super wouldn’t help housing affordability: Finance Minister
Most people are opposed to accessing superannuation for housing, and the idea is even less popular amongst supporters of the Coalition. Members of the Coalition have been raising the option of first home buyers accessing their super, though the model has apparently gone through several revisions. 50% of those polled… Read More »Majority opposed to accessing super for housing, even less popular with Coalition voters
The federal government is split on whether first home buyers in Australia should be allowed to use part of their superannuation for home deposits. But what the more strident critics miss is that Australia’s superannuation system already channels a significant proportion of retirement savings into housing. It does this not… Read More »Here’s how superannuation is already financing homes
The superannuation and property industries have welcomed the suggestion of increased investment in affordable housing, but not allowing first home buyers to access their super. Yesterday the Treasurer said, in a speech, that he hoped superannuation funds would invest more in affordable housing. On the same day it was reported… Read More »Super industry interested in affordable housing, not first home buyers accessing super
The Treasurer Scott Morrison says superannuation funds should invest in affordable housing and the Government is reportedly still considering ways to let first home buyers access superannuation. “Home ownership is a positive for the Australian economy, our society and the nation’s finances,” said the Treasurer, in a speech to the Australian… Read More »Super funds should invest in affordable housing: Treasurer
Treasurer Scott Morrison wants to use the May budget to ease growing community anxiety about housing affordability. Lots of ideas are being thrown about: the test for the Treasurer is to sort the good from the bad. Reports that the government was again considering using superannuation to help first homebuyers… Read More »The latest ideas to use super to buy homes are still bad ideas
Paul Keating has accused the Liberal Party of trying to destroy superannuation by breaking the preservation rule to allow super to be put towards housing, in an opinion piece published by Fairfax media. It appears support is growing within the government for superannuation to form part of a housing affordability… Read More »Keating says it’s reckless to access superannuation for housing
Labor Shadow Treasurer Chris Bowen says an option being considered by the Government for first home buyers to access superannuation is the “Stupidest. Idea. Ever. 2.0”. According to reports the Prime Minister is “actively considering” allowing first home buyers have their superannuation take an equity stake in a property they want… Read More »First home buyers accessing super “stupidest idea ever”, says Chris Bowen
The Prime Minister is, according to reports, “actively considering” allowing first home buyers to use their superannuation to directly invest in their own housing. The model apparently under consideration is a ‘shared equity’ scheme where the super fund invests in the property of the member, not withdrawing superannuation to fund… Read More »PM “actively considering” letting first home buyers access super