In his budget speech, Mr. Morrison said “There are no silver bullets to make housing more affordable.”

“If a family or an individual has a roof over their head that they can rely on, then all of life’s other challenges become more manageable.

“Whether you are saving to buy a home, spending a high proportion of income on your rent, waiting for subsidised housing, or you’re homeless, this is an important issue to you.

The measures that Mr. Morrison outlined I believe were there to make it look as if the Government was doing something. I don’t believe they will make much difference at all.

The First Home Super Saver Scheme, to be administered by the ATO, will enable first home buyers (FHBs) to make voluntary contributions of up to $15,000 per year and $30,000 in total, to their superannuation account to purchase a first home. The Government claims this will allow FHBs to grow their savings faster than in a bank account by about 30%.

A new home owner needs at least 10% of the purchase price to buy their first home and $30,000 just won’t cut it in Sydney or Melbourne. Maybe it would cover the Stamp Duty but that’s about it. The problem is really a problem for people wanting to live in or close to Sydney or Melbourne. The rest of Australia is not experiencing the same boom conditions and Perth and Darwin prices are falling.

Everywhere in Australia has the same interest rates, the same banking conditions, the same investor benefits, and the same tax rules but the problem really surrounds the Sydney and Melbourne markets.


Australia’s population is growing too quickly and most immigrants want to live in Sydney or Melbourne. NAB’s chairman Ken Henry says, “it is a Canberra per year’ that we need to house, educate and give medical services to. The RBA and APRA controls on lending don’t solve the supply-demand issues. We are just not building enough dwellings relative to the population growth and not allowing enough subdivision of land or new land releases. We need to increase supply of land, lots of it, to meet demand. Sydney, for example has loads of unused or under-used land and it needs to be made available.


First Home Buyers need another plan. They need the help of family. They could group together to help one another.

Consider intelligent investment which will work towards achieving your first family home. Not one that loses money such as a negative gearing strategy. That won’t get you there. You need to make money. Group together and do a property project to raise money for a home in the future. Projects can include a renovation flip, a duplex development or a mortgage takeover. First Home Buyers need to move out, away from the centers of Sydney and Melbourne to areas they can afford.

If you are ready to bite the bullet on getting into the property market give Sandra at Every Loan a call on 96532034 to discuss what you can do and how to do it. It may not be easy but it is not hard. You can get into the market and you can make money in property.