https://lnkd.in/g6ggtzte
Here’s my summary summary:
Labor – New ✅$10B over 8 years to build 100,000 homes for first home buyers.
✅Expansion of the home guarantee scheme, with removal of $125,000 income threshold.
Labor – Existing ✅Shared equity scheme w/ increased property price caps.
✅$10B Housing Australia Future Fund for 40,000 social and affordable dwellings.
✅$54M for prefabricated and modular housing construction ✅$2B Housing Support Program & $3B incentive under #housingaccord (note: this has zero chance of being paid out)
Coalition – New ✅Tax–deductible mortgage interest costs up to $650,000 for five years.
✅Increased income cap for the home guarantee scheme to $175,000 for singles and $250,000 for couples.
Coalition – Existing ✅Access to superannuation for first-home buyers and reduced loan serviceability buffer.
✅Abolish the HAFF.
✅Freeze NCC for 10 years ✅Reduced lending buffer for FHBs ✅$5B in enabling infrastructure investment
Both ✅Home guarantee scheme in general (which allows loans with a 5% deposit without lender’s mortgage insurance), with minor differences in eligibility criteria. Both will remove the cap on numbers.
✅Two–year ban on foreign investors and temporary residents buying existing properties.
🤔What does this all mean for #housingsupply?
If the focus is building for those who need the most support, the ALP will deliver more. However their policy suite will deliver less overall new supply.
If a larger number of #attainable homes to the market for people to buy, and greater overall supply is the goal, I believe the Coalition delivers more.
I will point out that both offerings will require the States to play their role which can never be guaranteed.