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‘Economically reckless:’ Coalition exploring full use of superannuation for house deposit

Article image for ‘Economically reckless:’ Coalition exploring full use of superannuation for house deposit

First home owners may have the option of using the total amount of their superannuation to buy a house as the Coalition explores the idea.

Super Members Council CEO Misha Schubert told Oliver Peterson on Perth Live politicians should be looking on expanding housing supply not creating more pressure on the age pension which every single tax payer would pick up the bill for.

Previous modelling done by the council based on the policy allowing $50 thousand to be taken out for a deposit shows it would push house prices up by 13% in Perth.

“This is economically reckless and it sets a trap for young Australians,” Ms Schubert said.

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Oliver Peterson
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