{"id":320,"date":"2023-08-21T13:47:28","date_gmt":"2023-08-21T13:47:28","guid":{"rendered":"https:\/\/investinperth.net.au\/old\/?p=320"},"modified":"2023-08-21T13:48:11","modified_gmt":"2023-08-21T13:48:11","slug":"government-to-back-40000-homebuyers","status":"publish","type":"post","link":"https:\/\/investinperth.net.au\/old\/2023\/08\/21\/government-to-back-40000-homebuyers\/","title":{"rendered":"Government to back 40,000 homebuyers"},"content":{"rendered":"\n<div class=\"wp-block-columns gutenify-section-b4072260-4028-11ee-bab0-49c9dc2a1a62 is-layout-flex wp-container-core-columns-layout-1 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column gutenify-section-b405e9e0-4028-11ee-bab0-49c9dc2a1a62 is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:100%\">\n<p class=\"has-large-font-size gutenify-section-aa9253d0-4028-11ee-bab0-49c9dc2a1a62\"><strong>Up to 40,000 low- and middle-income earners will get additional help to buy a home from next year, as the federal government launches its promised Help to Buy scheme.\u00a0<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size gutenify-section-c7170c30-4028-11ee-bab0-49c9dc2a1a62\">The states and territories agreed to the shared equity scheme, which was one of the federal government\u2019s\u00a0<a rel=\"noreferrer noopener\" href=\"https:\/\/www.realestate.com.au\/news\/election-2022-housing-and-first-home-buyer-policies\/\" target=\"_blank\">2022 election<\/a>\u00a0promises, at\u00a0National Cabinet on Wednesday.\u00a0Under the\u00a0Help to Buy\u00a0scheme, the federal government will contribute up to 40%\u00a0of the cost of a new home, and 30% for an existing home, to 10,000 eligible buyers per year.\u00a0<\/p>\n\n\n\n<p class=\"has-large-font-size gutenify-section-f9f1ffc0-4028-11ee-bab0-49c9dc2a1a62\"><strong>Requirements<\/strong><\/p>\n\n\n\n<p class=\"has-medium-font-size gutenify-section-fa4094f0-4028-11ee-bab0-49c9dc2a1a62\">Eligible single people must have an income of no more than $90,000, while couples must have a combined income of no more\u00a0than $120,000.\u00a0 There will also price caps placed on the properties the government will support, which vary by state and city.\u00a0 Prime Minister Anthony Albanese says the government is opening the door of home ownership to tens of thousands of Australians.\u00a0 \u201cSo often these Australians have done all the right things \u2013 worked hard, saved up, made sacrifices, but a deposit for a home is still out of reach,\u201d he said. \u00a0Proptrack senior economist Paul Ryan says the Help to Buy scheme would be popular with first-home buyers who were struggling to save a deposit.\u00a0 \u201cThe good thing about this policy is that it recognises that the big burden for first-home buyers is saving a deposit, so the homebuyers who are accepted can jump that hurdle much more easily,\u201d Mr Ryan said. He says the Help to Buy and\u00a0home guarantee schemes\u00a0are better policies than first-home buyer grants and stamp duty concessions, which can contribute to higher home prices. \u201cThese policies are likely to get first-home buyers into their homes sooner,\u201d he said.\u00a0The Help to Buy scheme is the latest federal government-supported program to help Australians buy a home. \u00a0<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Up to 40,000 low- and middle-income earners will get additional help to buy a home [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","om_disable_all_campaigns":false,"_uag_custom_page_level_css":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":"","gutenify_custom_css":"","gutenify_custom_css_data":""},"categories":[18],"tags":[],"uagb_featured_image_src":{"full":false,"thumbnail":false,"medium":false,"medium_large":false,"large":false,"1536x1536":false,"2048x2048":false,"awb_sm":false,"awb_md":false,"awb_lg":false,"awb_xl":false},"uagb_author_info":{"display_name":"Suresh Sama","author_link":"https:\/\/investinperth.net.au\/old\/author\/sama-suresh\/"},"uagb_comment_info":1,"uagb_excerpt":"Up to 40,000 low- and middle-income earners will get additional help to buy a home [&hellip;]","_links":{"self":[{"href":"https:\/\/investinperth.net.au\/old\/wp-json\/wp\/v2\/posts\/320"}],"collection":[{"href":"https:\/\/investinperth.net.au\/old\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/investinperth.net.au\/old\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/investinperth.net.au\/old\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/investinperth.net.au\/old\/wp-json\/wp\/v2\/comments?post=320"}],"version-history":[{"count":2,"href":"https:\/\/investinperth.net.au\/old\/wp-json\/wp\/v2\/posts\/320\/revisions"}],"predecessor-version":[{"id":322,"href":"https:\/\/investinperth.net.au\/old\/wp-json\/wp\/v2\/posts\/320\/revisions\/322"}],"wp:attachment":[{"href":"https:\/\/investinperth.net.au\/old\/wp-json\/wp\/v2\/media?parent=320"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/investinperth.net.au\/old\/wp-json\/wp\/v2\/categories?post=320"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/investinperth.net.au\/old\/wp-json\/wp\/v2\/tags?post=320"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}