MASTER Builders Australia has backed the First Home Loan Deposit Scheme announced by Prime Minister Scott Morrison.
Denita Wawn, CEO of Master Builders Australia said, “The scheme will be a boost for both First Home Buyers and residential builders who are worried about the declining housing market.
“For many aspiring First Home Buyers it is the deposit gap rather than the size of mortgage payments that is the real barrier to home ownership and we think the First Home Deposit Scheme will help them overcome it," she said.
“We have been calling for measures such as this scheme because this kind of targeted and practical approach will do more to assist First Home Buyers than doubling capital gains tax and restricting negative gearing.
“The measure will be welcomed by home builders and tradies who are facing a softening housing conditions which are down by as much as 30 percent in some markets.
"A stronger building industry means a strong economy and this measure will provide some stimulus for the housing market at just the right time,” Ms Wawn said.