Radical new scheme would help first home buyers with deposits in exchange for property value - so would you take the deal?
A radical plan to help young people get into Australia's most expensive property market would see them give up equity in their major asset.
The scheme would see the government contribute to a first home buyer's deposit, which is often 20 per cent of the sale price. In return the government would legally own a percentage of the value of that property.
The plan is in development by Dominic Perrottet's NSW government as a possible solution to Sydney's housing affordability crisis.
The median house price in Sydney in early 2022 is $1.6million, while the median unit price is $802,000 - enough to buy a house in most major Australian cities.
https://www.dailymail.co.uk/ne....ws/article-10504499/
Leigh
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