Australia's Super Members Council warns federal opposition's proposal to withdraw up to 40% of retirement savings for first-home buying could increase major city house prices by $78k.
Australia's Super Members Council warns that a proposal from the federal opposition to allow citizens to withdraw up to 40% of their retirement savings to buy their first home could increase house prices in major cities by an average of $78,000. Critics argue that this policy could exacerbate the housing affordability crisis without addressing supply issues. A potential alternative is giving Australians the option to use their superannuation as collateral for a loan without compromising their retirement balances.
March 11, 2024
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