{"id":15732,"date":"2022-03-25T10:26:13","date_gmt":"2022-03-25T10:26:13","guid":{"rendered":"http:\/\/www.16news.com.au\/?p=15732"},"modified":"2022-03-25T10:26:13","modified_gmt":"2022-03-25T10:26:13","slug":"labors-regional-first-home-buyer-support-scheme","status":"publish","type":"post","link":"http:\/\/www.16news.com.au\/index.php\/2022\/03\/25\/labors-regional-first-home-buyer-support-scheme\/","title":{"rendered":"Labor\u2019s Regional First Home Buyer Support Scheme"},"content":{"rendered":"\n<p>Labor today announced the next part of our plan to tackle the housing crisis \u2013 the Regional First Home Buyer Support Scheme.<br><br>The Scheme will help 10,000 Australian families a year in regional areas to buy their first home.&nbsp;<br><br>This triples the number of places that Australians living in regional areas received last year under the current First Home Loan Deposit Scheme.<br><br>It is harder to buy a house today than ever before.&nbsp;<br><br>Last year, housing prices in our capital cities rose by 21 per cent.&nbsp;<br><br>In the regions they jumped by 26 per cent.&nbsp;<br><br>In many parts of regional areas, the cost of buying a house increased by even more:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>47.1 per cent in Wamberal on the Central Coast of New South Wales.<\/li><li>45.2 per cent in Terrigal on the Central Coast of New South Wales.<\/li><li>35.7 per cent in Kiama on the South Coast of New South Wales.<\/li><li>34.5 per cent in Torquay, Victoria.<\/li><li>33.3 per cent in Cessnock in the Hunter region of New South Wales.<\/li><li>40.3 per cent in Launceston, Tasmania.<\/li><li>30.4 per cent in Burnie, Tasmania.<\/li><\/ul>\n\n\n\n<p>Last week, Infrastructure Australia released a&nbsp;<a href=\"https:\/\/alp.us12.list-manage.com\/track\/click?u=942ebc4c1cf8fc522a4f4c50e&amp;id=3928c854c9&amp;e=a709c12679\" target=\"_blank\" rel=\"noreferrer noopener\">report<\/a>&nbsp;that confirmed housing has been identified as the biggest infrastructure problem across regional Australia.<br><br>With house prices having skyrocketed and a sharp drop in affordability, regional first home buyers need and deserve their own dedicated scheme to support them to buy a home.&nbsp;<br><br>Labor\u2019s Regional First Home Buyer Support Scheme will be reserved for Australians that have lived in that region for more than 12 months.<br><br>The Government\u2019s own&nbsp;<a href=\"https:\/\/alp.us12.list-manage.com\/track\/click?u=942ebc4c1cf8fc522a4f4c50e&amp;id=784270fb53&amp;e=a709c12679\" target=\"_blank\" rel=\"noreferrer noopener\">review&nbsp;<\/a>of the National Housing Finance and Investment Corporation called for the First Home Loan Deposit Scheme to be expanded in the regions last year.<br><br>Labor\u2019s Regional First Home Buyer Support Scheme will help first home buyers get into a house sooner with a deposit of just five per cent without the need to pay Lenders Mortgage Insurance, saving up to $32,000. Government will provide a guarantee of up to 15 per cent of the value of the property purchased.&nbsp;<br><br>The eligible regions under Labor\u2019s Regional First Home Buyer Support Scheme, local price caps and mortgage insurance savings are:<br><br><img decoding=\"async\" src=\"https:\/\/mcusercontent.com\/942ebc4c1cf8fc522a4f4c50e\/images\/b1230d02-0f62-baa2-939a-511a80491da0.png\"><br><br>From Gosford to Gippsland to Gatton, from Broome to Burnie, this scheme is reserved for regional Australians.<br><br>An Albanese Labor Government will also improve the operation of the current scheme by reviewing and updating the price caps on a six-monthly basis and improving the process of reallocating unused guarantees.&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Labor today announced the next part of our plan to tackle the housing crisis \u2013 the Regional First Home Buyer Support Scheme. The Scheme will help 10,000 Australian families a year in regional areas to buy their first home.&nbsp; This triples the number of places that Australians living in regional areas received last year under &hellip; <a href=\"http:\/\/www.16news.com.au\/index.php\/2022\/03\/25\/labors-regional-first-home-buyer-support-scheme\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Labor\u2019s Regional First Home Buyer Support Scheme&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-15732","post","type-post","status-publish","format-standard","hentry","category-aussie"],"_links":{"self":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/15732","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/comments?post=15732"}],"version-history":[{"count":1,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/15732\/revisions"}],"predecessor-version":[{"id":15733,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/15732\/revisions\/15733"}],"wp:attachment":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/media?parent=15732"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/categories?post=15732"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/tags?post=15732"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}