Matt Burnell (Spence, Australian Labor Party) Share this | Hansard source

Too many Australians are working hard saving every dollar they can but still feel like the dream of owning a home is slipping away. In Adelaide's north, we know this story all too well. Families tighten their belts but are still locked out of the housing market. That is why Labor is determined to change this.

From 1 October first home buyers across Australia will be able to purchase a home with just a five per cent deposit. For those in the north, where the average house price is around $650,000, it means needing only $32½ thousand to put down a deposit on a home. Because the government will guarantee part of these mortgages, people won't be forced to pay additional fees like lenders mortgage insurance.

Additionally, Labor is delivering 100,000 new homes across the country, reserved exclusively for first home buyers because we want to level the playing field. We are continuing the largest housing build in Australia's history because more houses means more affordable homes in suburbs like Munno Para, Andrews Farm, Eyre, Riverlea, Angle Vale, Virginia and Concordia—to name a few. Real progress is being made, and Labor is getting on with the job of delivering for you.

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