First-home­buy­ers to ben­e­fit from new Gov­ern­ment plan

Pilbara News - - News - Sophia Constantine

A South Hed­land cou­ple say they will ben­e­fit from the new First Home Saver Ac­counts scheme an­nounced in the Fed­eral Bud­get.

The cou­ple have been rent­ing for the past five years but are ap­proach­ing the fi­nal stages of be­ing able to save for their first home.

Aaron Coelho and Abbey Tobin, both in their early 20s, moved to Port Hed­land from Perth a short time ago af­ter se­cur­ing full-time em­ploy­ment.

Mr Coelho said given the cur­rent cli­mate in Port Hed­land, buy­ing a prop­erty ap­peared an af­ford­able op­tion.

“We would be happy to get out of the rental mar­ket and move into our own home,” he said.

“We are still find­ing our feet but by the time the new changes come into ef­fect, we would have hoped to save enough to put down a de­posit.”

Un­der the new plan, which comes into ef­fect on July 1, first­time buy­ers will be able to save $30,000 in­side their super ac­counts and with­drawals will be taxed at a lower rate.

Cou­ples will be able to save $60,000 for their first home de­posit.

Trea­surer Scott Mor­ri­son said un­der the new plan, most firsthome­buy­ers would be able to ac­cel­er­ate their sav­ings by about 30 per cent. Hed­land First Na­tional owner Morag Lowe said the com­pany had sold 77 prop­er­ties so far this year, with a sig­nif­i­cant pro­por­tion of those buy­ing for the first time.

She said she did not think the new scheme would have a big ef­fect on first-home­buy­ers in Port Hed­land be­cause real es­tate was very af­ford­able for the first time in well over a decade.

“It’s re­ally about af­ford­abil­ity and the price point peo­ple are buy­ing at,” she said.

Pic­ture: Sophia Constantine

Aaron Coelho and Abbey Tobin with Franklin.

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