An impending interest rate rise and a new opposition shared equity plan to get thousands of people into homes has intensified the spotlight on property affordability.
Federal Labor says the cost of buying a home will be slashed by up to 40 percent for about 10,000 low to middle income earners a year if it wins government.
Responding to the policy on Sunday, Finance Minister Simon Birmingham said the recently expanded Home Guarantee Scheme was preferable to governments owning part of people’s homes.
“Our policy is about ensuring that Australians get to own their own home, Labor’s policy is about the government owning parts of your home with you,” Birmingham told ABC’s Insiders on Sunday.
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