Fact sheet

Fact Check: Michael Sukkar says Coalition policies have pushed first home buyers to their highest levels in 15 years. Is that correct?

Publisher
Affordable housing First home owners Housing prices Housing subsidies Housing Australia
Description

Following Labor's announcement of a shared equity housing scheme for low income earners, Housing Minister Michael Sukkar took to Sydney radio station 2GB to bolster his own party's housing schemes.

"Through the home builder programme, through the home guarantee scheme, through the first home supersaver scheme: we've got first home buyers at their highest levels for nearly 15 years," Mr Sukkar said.

While loans to first home buyers have not reached a 15-year high, on a number of measures, the past two years have seen such loans at a higher level than recorded since early 2010.

It's worth noting, however, that since a peak in mid-2021, the number of first home buyer loans has been decreasing (though the latest figures remain higher than those recorded in the decade to 2020).

As for the impact of government policies, experts told Fact Check that Coalition schemes had indeed resulted in more first home buyers, though they noted the increase was unlikely to be sustained in the long term.

One expert spoke of a "very strong expectation" there would be a dearth of first home buyer activity in coming years as a result of demand being brought forward by government policies.

Verdict: Fact Check found that claim to be overstated.

Publication Details
License type:
All Rights Reserved
Access Rights Type:
open