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The Guardian - AU
The Guardian - AU
Business
Greg Jericho

The 5% first home buyers scheme is a miserable policy failure – and the latest chapter in Australia’s housing disgrace

For sale and sold signs outside flats
‘The latest housing finance figures suggest house prices are set to rise off the back of investors rushing into the market to beat the introduction of the 5% deposit scheme for first home buyers,’ writes Greg Jericho. Photograph: Dan Himbrechts/AAP

The story of Australia’s housing policy over the past 25 years is one of governments doing all they can to juice demand for housing while steadily reducing the supply of public housing.

This trend continues as the latest housing finance figures suggest house prices are set to rise off the back of investors rushing into the market to beat the introduction of the 5% deposit scheme for first home buyers.

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