Helping first-time homebuyers enter the Australian property market is crucial after a series of declines reduced consumer confidence, it has been suggested.
Acting president of the Real Estate Institute of Australia (REIA) Pamela Bennett suggested the country should adopt a similar solution to Canada to assist this group during the economic uncertainty.
Her comments were made after the REIA presented a plan to allow first-time buyers access to their superannuation for the purpose of home purchase.
The scheme has proven extremely popular in Canada, with 1.4 million individuals withdrawing money from their retirement savings to participate between 1992 and 2004.
"The REIA would like to see [The Canadian Home Buyer's Plan] implemented in Australia as a solution to overcome the problems faced by first home buyers," Ms Bennett remarked.
Earlier this year, the organisation claimed the government's carbon price and compensation package failed to acknowledge the needs of homebuyers.
Posted by Ravin Chatlani
Acting president of the Real Estate Institute of Australia (REIA) Pamela Bennett suggested the country should adopt a similar solution to Canada to assist this group during the economic uncertainty.
Her comments were made after the REIA presented a plan to allow first-time buyers access to their superannuation for the purpose of home purchase.
The scheme has proven extremely popular in Canada, with 1.4 million individuals withdrawing money from their retirement savings to participate between 1992 and 2004.
"The REIA would like to see [The Canadian Home Buyer's Plan] implemented in Australia as a solution to overcome the problems faced by first home buyers," Ms Bennett remarked.
Earlier this year, the organisation claimed the government's carbon price and compensation package failed to acknowledge the needs of homebuyers.
Posted by Ravin Chatlani
