Help To Buy Scheme
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It's The Real Estate Podcast, brought to you by Ray White, the largest real estate and property group in Australasia.
And welcome to another episode of The Real Estate Podcast, available on iHeartRadio and also Spotify and Apple Podcasts or wherever you get your podcast from. Well, I hope you had a great weekend and ready to get on and crack on with another week, the 23rd today of May for 2022. And coming up in just a moment, we're going to be speaking with Sally Tindall and having a look at the labour policy of the Help to Buy scheme, which of course is aimed at getting a lot more first home buyers into new homes. But first, let's take a look at weather around Australia.
It's the main centre forecast with propertybuyer.com.au.
And good morning to Sydney, where it's expected to be wet today for your Monday, showers and a high of 19 degrees. Melbourne expecting a mainly fine day with cloud clearing and 17 degrees. Brisbane expecting showers with 22. And in Perth, rain, some of it heavy and the possibility of some storms on your Monday and a high of 17.
Enjoy your morning coffee. Wake up every morning to the Real Estate Podcast.
Well, as we experienced on Saturday night, a new government led by Anthony Albanese has come to power. So let's bring in this morning's ratecity.com.au research director Sally Tindall and good morning Sally you would have been watching like the rest of us with a lot of attention to the detail on Saturday night and as I mentioned yesterday Labour has made small gains but Scott Morrison's coalition party has been punished by voters in Western Australia and affluent urban seats in particular. So what were some of your thoughts as this unfolded on Saturday night?
was really interesting to watch, Craig. We thought it was going to be an incredibly long night, and then it actually turned out to be a lot clearer than we were expecting at an early stage. Yes, it was interesting to see how well the independents did, particularly in urban areas such as Sydney. You've got Warringah, you've got McKellar, Wentworth, they all look like they've fallen to the independents, which was really a vote against the establishment.
Yeah, and I don't think that the government of the day, the Morrison government, really had any idea just how big that independent bloc was going to be.
Well, there was a lot of messages coming out from the coalition talking about what an independent vote would look like, what it would mean. And that meant that they were worried, to be honest. They did say, you know, an independent vote could end up being a vote for Labor and things like that. So I do think that they were looking out for it. But I don't think, as you say, they thought it was going to be as comprehensive as it now looks like it will be.
What is the Help to Buy scheme and who is it aimed at?
Obviously, the votes are still being counted. Some of these seats are incredibly tight still. But what is undeniable is that there was a big move towards this independence in certain areas.
And I wonder just how much of a burn factor Morrison, the individual, had on this particular outcome.
Well, he talked a lot about being a bulldozer in the dying days of the campaign. And again, I think that points to the fact that, you know, their research was showing that personally he might be on the nose. But beyond the individual when they're voting, I think they look to strong local members. I think that they look to strong policies and issues that actually affect them in the electorate or that is, you know, personally important to them. You can't say it was one or the other. I think that people are smarter than that when they get to the ballot box.
Well, I thought it was also quite a good idea this morning to have a bit of a look at recapping Labor's policy for housing and what was promised to first home buyers. Of course, it is called Help to Buy Scheme. And the scheme is capped at 10,000 places a year and is limited to individuals earning less than $90,000 or couples earning $120,000. The government would subsequently own a share in the house, which you can choose to buy back over a period of time.
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