First-homebuyers to benefit from new Government plan
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.
Aaron Coelho and Abbey Tobin with Franklin.