Deposit is the ‘biggest hurdle’ for first home buyers Sukkar

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Housing Minister Michael Sukkar says he thinks the Morrison government’s proposed housing affordability scheme is “very popular” with first home buyers.

The new home buyers scheme gives first home buyers access to up to 40 per cent or $50,000 from their superannuation to put towards a deposit.

“More than half” of first home buyers are expected to use the scheme if the Coalition is re-elected, according to Mr Sukkar.

“We’ve obviously calibrated the policy to make it as available as possible to first home buyers, to use some of their own savings to help them build the deposit,” Mr Sukkar told Sky News host Chris Kenny.

“Because we know the deposit is the biggest hurdle to getting into home ownership.”

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