Shared Equity Would Help Families Afford Homes 
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Wednesday 1 August 2007 The Iemma Government should investigate a shared equity program to help get first homebuyers into the market, Shadow Minister for Finance Mike Baird and Shadow Minister for Housing Chris Hartcher said today. “NSW has escalating housing affordability problems because the State Government has failed to provide new land for developers, lessen the tax burden on home buyers and developers and encourage real estate investors,’’ Mr Baird said. “Today I call on the Iemma Government to investigate a shared equity program which would give young couples and families a much needed leg up by purchasing part of a property for eligible first home buyers. “Such a scheme was introduced in Western Australia this year after Perth experienced escalating real estate prices similar to those in Sydney. “It is a common sense measure that will not only provide thousands with a home to call their own but also drive, jobs, investment and growth.” “The Western Australian Government’s First Start scheme allows the government to buy a portion of a home with eligible first homebuyers. That portion can be bought from the government at a later date.” “The Iemma Government also needs to urgently release more land for housing and reduce taxes to relieve the pressure on the housing market,” Mr Hartcher said. “Infrastructure charges and other state taxes must be lowered and more land needs to be released if housing prices are to fall. “Working families are continuing to struggle while the government sits on its hands over a problem they refuse to accept any responsibility for. “The Iemma Government should show some leadership and make some positive steps towards addressing housing affordability. Since March there has not been a single announcement for its plans to meet the public need for land supply.” Add to:          Write Comment
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