Master Builders Australia calls for bipartisan support for Help to Buy scheme
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In a plea for bipartisan political support, Master Builders Australia has highlighted the importance of adopting the Help to Buy scheme, aimed at assisting first-home buyers and stimulating housing supply. CEO Denita Wawn expressed the organisation’s strong backing for the initiative, stating, “Those qualifying for the equity contributions will be able to purchase the home with a deposit as low as 2 per cent of the purchase price.”
Wawn elaborated on the benefits of the Help to Buy scheme, noting its rollout in tandem with the National Housing Accord, an ambitious project targeting the construction of 1.2 million new homes over five years ā a feat unprecedented in the industry’s history. “Beating our industry’s āpersonal bestā can only be done against the backdrop of exceptionally favourable conditions for the residential building industry,” Wawn added.
She also praised the strategic approach of offering higher equity caps for new homes (40 per cent) compared to existing homes (30 per cent), advocating for an expansion of the cap to 50 per cent to further encourage demand towards new home construction and bolster the national housing stock.
Wawn highlighted the design of the Help to Buy scheme as a means to navigate Australia’s varied housing market while addressing affordability issues without adversely affecting investment. She further criticised policy suggestions from the Greens, such as changes to negative gearing and Capital Gains Tax (CGT), predicting they would lead to a decrease in housing construction and deter investors. “Policies such as negative gearing and CGT changes as being demanded by the Greens will only see a fall in the number of homes built and drive away investors,” Wawn said, advocating for continued development of policies that both increase housing supply and promote homeownership.