Andrew Laming (Bowman, Liberal Party) Share this | Hansard source

Surely nothing is more important than speaking about single parents and the opportunity for them to buy a home with a reduced deposit, and it's something, ironically, that both sides of this chamber supported at the 2019 election. Both parties supported deposit assistance, and it's a very important contribution. Thirty thousand families will no longer be renters but will be home owners by the end of this financial year. The default rate is extremely low. It is a successful program that originated in 2018. I recognise the role of the Australian Banking Association in providing advice, and I recognise the support of Aussie Home Loans and other major lenders and of builders and constructors who recognised the role this could play in supporting property prices through COVID.

Most importantly, imagine single parents with children finally being able to escape the rent trap and to live without having over their heads the shadow of being moved out of their homes because they're caught in rent difficulties through the whim of a landlord. This is what this is all about: giving people a chance, for the first time, not to have to raise large deposits that would simply not be possible. The evidence is there to look at, if you haven't got your head in the sand, that the default rate is at a record low so far. For the 30,000 families that initially took up the First Home Loan Deposit Scheme, be it a new home or an existing dwelling, and now for the additional 10,000, this is something that deserves bipartisan support. It originated in 2018 with these early discussions, and it's been a very important policy for those most vulnerable families to achieve a dream that would never have been achieved without this policy. I strongly support this measure.

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