[fusion_builder_container hundred_percent=”no” hundred_percent_height=”no” hundred_percent_height_scroll=”no” hundred_percent_height_center_content=”yes” equal_height_columns=”no” menu_anchor=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” status=”published” publish_date=”” class=”” id=”” background_color=”” background_image=”” background_position=”center center” background_repeat=”no-repeat” fade=”no” background_parallax=”none” enable_mobile=”no” parallax_speed=”0.3″ video_mp4=”” video_webm=”” video_ogv=”” video_url=”” video_aspect_ratio=”16:9″ video_loop=”yes” video_mute=”yes” video_preview_image=”” border_size=”” border_color=”” border_style=”solid” margin_top=”” margin_bottom=”” padding_top=”” padding_right=”” padding_bottom=”” padding_left=””][fusion_builder_row][fusion_builder_column type=”1_1″ spacing=”” center_content=”no” link=”” target=”_self” min_height=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=”” background_color=”” background_image=”” background_image_id=”” background_position=”left top” background_repeat=”no-repeat” hover_type=”none” border_size=”0″ border_color=”” border_style=”solid” border_position=”all” border_radius=”” box_shadow=”no” dimension_box_shadow=”” box_shadow_blur=”0″ box_shadow_spread=”0″ box_shadow_color=”” box_shadow_style=”” padding_top=”” padding_right=”” padding_bottom=”” padding_left=”” margin_top=”” margin_bottom=”” animation_type=”” animation_direction=”left” animation_speed=”0.3″ animation_offset=”” last=”no”][fusion_text columns=”” column_min_width=”” column_spacing=”” rule_style=”default” rule_size=”” rule_color=”” hide_on_mobile=”small-visibility,medium-visibility,large-visibility” class=”” id=””]A scheme that will see the Federal Government support 10,000 first-home buyers has been approved.
The National Housing Finance and Investment Corporation Amendment Bill 2019 – introduced to the House of Representatives and the Senate in September – was finally passed by both houses this week.
In a joint statement, Minister for Housing Michael Sukkar and Treasurer Josh Frydenberg said the passage means “first-home buyers will be able to enter the property market sooner”.
The Scheme would see eligible first-home buyers who are on low and middle incomes purchase a house with a deposit as low as 5%.
The Federal Government says: “The Government recognises that saving a deposit has become a more significant barrier to entering the housing market. It can take 10 years for the average first-home buyer to save a 20% deposit. The Scheme will support 10,000 first-home buyers each financial year.”
The scheme is open to eligible applicants who have taxable incomes up to $125,000 a year for singles and up to $200,000 a year for couples.
Builders have welcomed the initiative, says Denita Wawn, CEO of Master Builders Australia.[/fusion_text][/fusion_builder_column][/fusion_builder_row][/fusion_builder_container]
