From 1 October, everyone in Werriwa will be able to buy their first home with a 5% deposit.
This will cut years off the time it takes to save for a deposit, helping people into their own homes sooner.
And because the Government will guarantee part of these mortgages, people won’t have to pay tens of thousands of dollars in Lender’s Mortgage Insurance.
For first home buyers here in Werriwa, I know this will make a real difference.
But I also know that even when first home buyers find a place they can afford, too many are losing out to property investors. We need to level the playing field.
That’s why we’re building 100,000 new homes exclusively for first home buyers.
For single parents, home ownership can sometimes be even tougher. So, we’re also backing single parents to buy with 2% deposits.
We’re also continuing the largest housing build in Australian history, because more housing means more affordable homes. And we’re building all kinds of home to meet the needs of different lifestyles.
For a decade, the Liberals didn’t invest in housing. Not enough homes got built and housing got more expensive.
This can’t be fixed overnight, but I’m proud of the real progress Labor is making.
I’ll be back in touch soon, but until then you can follow me on Instagram or Facebook to find out more about Labor’s plan to deliver for Werriwa.
Thanks,
