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First home buyers scheme spares Australians ‘four years of saving’: Morrison

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Prime Minister Scott Morrison says since the last election, the federal government has helped 300,000 people purchase their first home and has made the acquisition faster. “At the end of the day the crowning achievement of that is being able to go and buy your own home, and under the initiatives that we have introduced as a government, in particular since the last election was elected, we said this was a big issue,” he said. “What we have done as a government has been able to make that more achievable for more and more Australians since the last election, we have put over 300,000 Australians into a home.” Mr Morrison said less than 100,000 people a year were taking advantage of the scheme before the last election and now 177,000 people a year are using it. He also said those who used the First Home Loan Deposit Scheme “saved seven years” with an average of four years before being able to purchase their first house. “That's four years of saving they didn't have to do, that's four years of price increases they would have had to pay for that would have gone on top of their mortgage and this is an extraordinary outcome,” he said.

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Prime Minister Scott Morrison says since the last election, the federal government has helped 300,000 people purchase their first home and has made the acquisition faster.

“At the end of the day the crowning…



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