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A proposal to allow first home buyers to access their superannuation for a house deposit will be “like throwing petrol on a bonfire” for Central Queensland property prices.
These are Industry Super Australia’s ISA thoughts on a push by Victorian federal coalition backbencher Tim Wilson and other MPs for the scheme to be legislated.
An analysis by ISA found median property prices in capital cities could jump by between 8 and 16 per cent, if first home buyers were allowed to access $40,000 from superannuation.
The news comes on the back of statistics showing the property market hit a record high in January, with banks predicting double-digit growth this year.