Labor ups the election stakes with housing shared equity scheme
Housing affordability has escalated in prominence as a key federal election battlefield, with Labor upping the stakes over the weekend with its home shared equity scheme targeting 10,000 households.
Opposition leader Anthony Albanese: “This will help many Australians on low and modest incomes to buy a home with a much smaller mortgage that they can afford to pay rather than renting for the rest of their life.” (Image source: Shutterstock.com)
Housing affordability has escalated in prominence as a key federal election battleground, with Labor upping the stakes over the weekend with its home shared equity scheme targeting 10,000 households.
If elected, Labor has promised to cover 30-40 per cent of the cost of a property while retaining that same stake in the asset. When a property was sold, the government would also claim its portion of whatever capital gains were achieved.
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