Julie Collins (Franklin, Australian Labor Party, Minister for Small Business) Share this | Hansard source

I want to thank the terrific member for Dunkley for that question. I know that she understands that the legislation we'll be bringing to parliament this week will help home buyers in her electorate and, indeed, across the country. Indeed, this will be life-changing for so many Australians. There are people renting at the moment who could certainly service a mortgage but can't get over the 20 per cent deposit hurdle. Help to Buy will help those who are renting or living at home to get over the hurdle of this deposit. This is targeted help for low- and middle-income Australians to get into a home with just a two per cent deposit. The government will support eligible homebuyers with up to a 40 per cent contribution for new homes and up to 30 per cent for existing properties. This will help bring homeownership back into reach for thousands of Australians, particularly for those who are renting.

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