Home ownership out of reach: survey

Half of Victorians and Tasmanians believe the great Australian dream of owning a home is out of reach, a survey says.

Galaxy Research carried out the survey on behalf of the Master Builders' Association, and found 50 per cent of people in those states were "not confident" of ever owning a house. A staggering 20 per cent of adults are resigned to never having their own home, according to the survey.But compared to the rest of the country, Victorians and Tasmanians seem optimistic.

Nationally, 57 per cent of renters were not confident they would ever own a home, while 21 per cent of people earning between $50,000 and $69,000 believed they would never own their own home. Half of parents believed their children would never be able to afford to buy a house.

Master Builders executive director Brian Welch said the results showed governments needed to do more to improve housing affordability."Unless government attitudes change soon, future housing will increasingly be bought, built and owned only by Victorians who are asset or income rich," Mr Welch said. The survey was carried out in late March, with 298 people over 18 surveyed in Victoria and Tasmania, and 1,051 people surveyed nationally.

Business Spectator - Home ownership out of reach: survey

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Extend first home owner grant: Coalition

A third of the federal government's $6 billion spend on public housing should go to the private residential construction sector, the opposition says.

Data released on Tuesday showing a rebound in house prices is another sign that the more generous first-home owner scheme should be extended beyond June, housing spokesman Scott Morrison says. The government, as part of its first stimulus package last year, temporarily doubled the grant available to first home buyers of existing homes to $14,000 and tripled it to $21,000 for buyers of newly-constructed homes. It is leaving any decision to extend the stimulus measure to the May budget.

"Improved property values, together with rising house sales and easing mortgage stress, pointed to the private housing construction sector as a key to stimulating economic activity," Mr Morrison said. "At least $2 billion should be diverted from Labor's over-ambitious program to spend $6 billion on public (housing),"

Instead it should be diverted to the private sector through the first-home owner grant scheme, he said. Mr Morrison said it was "fanciful" that states and territories could spend $6 billion on public housing in less than two years."Last time it took more than eight years to achieve that result," he said.

© 2009 AAP

Extend first home owner grant: Coalition


First Home Loan Specialists

This is the start of the pressure for the First Home Owners Grant Scheme boost to be retained. I am not convinced in the current economic climate and the Goverment's need to control the deficit that they will continue the boost.

With interest rates tipped to come further in the next couple of months, I consider that now is the best time to go out and purchase your first home.

If you are a first home buyer then check out our free 8 part Specal report for First Home Buyer at www.firsthomeloanspecialist.com.au.

Greg Brierley
Principal
First Home Loan Specialists

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