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

I do want to thank the member for Macnamara for that important question. I know that he is very supportive of our ambitious housing agenda, and, indeed, he is concerned about the housing challenges that Australia faces today.

Help to Buy will be life-changing for tens of thousands of Australians. The legislation I introduced today will provide a pathway to homeownership for people who have been locked out. Particularly, it will help low- and middle-income Australians get over the hurdle of a deposit and enjoy ongoing savings thanks to smaller repayments. Eligible participants will only need a two per cent deposit for Help to Buy. The government will support them with an equity stake of up to 40 per cent for new homes and up to 30 per cent for existing homes. Help to Buy will help more than 40,000 Australians into homeownership.

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