Labor’s scheme will get people into homeownership who would have otherwise missed out. The Coalition’s will get people already likely to buy into houses sooner.
The Melbourne Apartments Project developed by the Barnett Foundation offered 28 units to households living within 4km of the site and willing to leave their social housing.
Barnett Foundation
Shared equity models have a dual benefit of making home ownership affordable for people on modest incomes and freeing up scarce social housing for other households in need.
Without substantial financial assistance many NDIS participants would struggle to find affordable housing to move into.
shutterstock
Shared ownership schemes can unlock access to suitable housing, although these are less common in Australia than overseas. And most are not specifically tailored for people with disability.
New homes like this one in Sydney’s south-west would be within reach for more first-time buyers in New South Wales if the state government supported shared home buying schemes.
Dean Lewins
New South Wales is Australia’s most populous state, with the most expensive capital city – yet it’s done less than many other states to develop cost-effective options for aspiring home owners.