Australian Election 2022 | Home Buyer Schemes: Labor vs Liberal [Who will help homebuyers the most?]

Australian Election 2022 | Home Buyer Schemes: Labor vs Liberal [Who will help homebuyers the most?]

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Housing affordability and first home buyers dominate this year's 2022 federal election conversations. And with polls just around the corner on May 21st, it is imperative that we investigate what each political party in Australia are pledging this year. In this video, we look at what the Coalition, Labor, Greens and the United Australia Party are promising for homebuyers and housing affordability in this federal election, including:

๐Ÿ˜๏ธ Labors Shared Equity & Help to Buy Schemes
๐Ÿ  Liberals Expanded Home Guarantee & Regional Help Scheme
๐Ÿ The Greens' Fair Share Equity & HECS Debt Removal Schemes
๐Ÿฆ And the United Australian Parties' 3% Interest Rate Cap

While each government is looking at home buying and housing affordability at the forefront of their plans, there are several key differences, pros, cons, benefits, and disadvantages between each plan and execution strategy - some may not even be possible!!

At a glance, this time around, the focus of most parties seems to be around building homes or helping home buyers rather than rebalancing the tax system. Schemes aimed at low deposit borrowers, with LMI waivers and first home buyers, feature in both the ALP and Coalition platforms. And both the ALP and the Greens are offering a shared equity buying scheme where the government helps buyers purchase homes in exchange for a percentage share of the home's equity.

For a more detailed analysis, please see below:

00:00 What each major party are promising in this year's federal election
00:21 The Liberal parties expanded Home Guarantee Scheme!
00:42 Why the Low Deposit Regional Guarantee Scheme is AMAZING!
01:18 Double 2% Deposit Scheme?
01:27 Property Price Cap Increases for First Home Buyers!
01:49 Liberal Party Promises? A good thing for the property market?
02:13 What they could have done better?
03:08 The BIG BENEFIT of the Liberal Schemes
03:31 Labor's GREAT Housing Affordability Plans!
03:40 Don't change what isn't broken? Labor keeps First Home Loan Deposit Scheme
04:29 Labor's First Home Help To Buy Plan (Shared Equity Scheme)
05:18 The PITFALLS of Labor's Shared Equity Scheme
06:40 Labor's Regional First Home Buyer Support Scheme
07:23 The MAIN DIFFERENCES between Liberal vs Labor's schemes!
08:35 The Greens - Some AMAZING Initiatives!
09:47 Geens Pledge HECS & HELP Debt REMOVAL
10:44 United Australia Party - Maximum 3% Interest Rates Cap
11:00 The TRUTH about the 3% Interest Rate Cap
11:51 Which is better for Homebuyers? Australian election 2022

If you'd like to make up your own mind, here are a couple of links I'd recommend you read:

โœ… What each political party is promising
๐Ÿ‘‰ https://www.finder.com.au/election-2022-housing-policy-compared

โœ… Labor's Help to Buy Shared Equity Scheme
๐Ÿ‘‰ https://www.alp.org.au/policies/helping-more-australians-into-home-ownership?

โœ… Labor's Regional First Home Buyer Scheme Explained
๐Ÿ‘‰ https://www.abc.net.au/news/2022-03-25/first-home-buyers-scheme-regional-labor-election-pitch/100940714

โœ… Liberal's Expanded Home Guarantee scheme
๐Ÿ‘‰ https://www.liberal.org.au/our-plan-housing-and-home-ownership

โœ… The 'pros' and 'cons' of expanding home loan guarantees
๐Ÿ‘‰ https://www.corelogic.com.au/news-research/news/2022/the-pros-and-cons-of-expanding-home-loan-guarantees

โœ… The Green's First Home Owners Plans ๐Ÿ‘‰ https://greens.org.au/own-home

โœ… How do the United Australia Party's economic policies stack up?
๐Ÿ‘‰ https://www.unitedaustraliaparty.org.au/national_policy/

Want to know more? Visit us here ๐Ÿ‘‰ https://www.huntergalloway.com.au/

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๐Ÿ‘‰ https://www.huntergalloway.com.au/free-assessment/
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