Change 5pc deposit scheme, IMF warns Labor

Change 5pc deposit scheme, IMF warns Labor

The International Monetary Fund says the government’s flagship deposit scheme will worsen housing affordability, but economists say it’s already too late.

Australia: Housing policy, RBA shift and IMF warning – Rabobank

Rabobank’s Michael Every discusses a material shift in Australia’s macro backdrop. RBA minutes explain a 25 bps rate hike against stronger forecasts, while the IMF warns that the 5% deposit scheme for first-time buyers will fuel housing inflation and should be scrapped.

First-home buyers missing out due to deposit scheme confusion

MORE THAN 21,000 first-home buyers have used the Government’s expanded First Home Guarantee in the last four months, with estimates showing one in 10 properties across the country purchased using the scheme in October alone. The scheme allows first-home buyers to purchase a home with a deposit of as little as 5 per cent, with the government guaranteeing up to 15 per cent of the property value, bridging the gap to a 20 per cent deposit and removi…