Close menu
Menu
  • Open submenu (Our Team)Our Team
  • Open submenu (Our Party)Our Party
  • Open submenu (News)News
  • Get Involved
  • Contact
  • Volunteer
  • Members' Login
Close submenu (Our Team)Our Team
  • State Liberals
  • Meet Mark Speakman
  • Federal Liberals
Close submenu (Our Party)Our Party
  • Our Structure
  • Our Beliefs
  • Our History
  • Our Leaders
  • Join Our Party
  • Friends of the Liberal Party
  • Liberal Women's Council
  • NSW Young Liberals
Close submenu (News)News
  • Federal News
  • State News
Connect with the NSW Liberals

Authorised by Chris Stone
Liberal Party of Australia, NSW Division
Level 2, 131 Macquarie Street
Sydney NSW 2000
Phone: (02) 8356 0300

Privacy Policy

Liberal Party NSW
Connect with the NSW Liberals
  • Our Team
    • State Liberals
    • Meet Mark Speakman
    • Federal Liberals
  • Our Party
    • Our Structure
    • Our Beliefs
    • Our History
    • Our Leaders
    • Join Our Party
    • Friends of the Liberal Party
    • Liberal Women's Council
    • NSW Young Liberals
  • News
    • Federal News
    • State News
  • Get Involved
  • Contact
  • Volunteer
  • Members' Login
Join Donate

Home ownership help for key workers, single parents and older singles

19 June 2022
Share this
Related Articles

Teachers, nurses, police, single parents and older singles will be helped to realise their dream of home ownership under a $780.4 million investment in a shared equity scheme to be trialled by the NSW Government.
 
Premier Dominic Perrottet said under the scheme, the NSW Government would contribute an equity share up to 40 per cent for a new property or up to 30 per cent for an existing property purchased by eligible buyers.
 
“One of the Government’s priorities is to make home ownership a reality for more people across our State and allow people to live closer to where they want to work, live and raise a family,” Mr Perrottet said.
 
“This Budget continues our focus on significant and important reform to create a brighter future for NSW families.
 
“We are continuing to invest in our people to transform our State as we embark on delivering what matters to make daily life better for people across our State.”
 
Treasurer Matt Kean said many older singles struggled to find secure housing, with the number of women aged over 55 among the fastest growing cohort of homeless people in the nation.
 
“Housing security is the bedrock of financial security,” Mr Kean said.
 
“A safe and secure home is fundamental to allow people to earn an income, care for their loved ones and pursue their own interests and aspirations.”
 
Minister for Homes Anthony Roberts said this scheme would not only help participants overcome the deposit barrier to home ownership, but reduce the size of their mortgage and its repayments.
 
“This scheme forms part of a broader housing package of $2.8 billion,” Mr Roberts said.
 
“It marks another step in the Government’s plan to ensure that every person in NSW has a place to call home.”
 
Under the NSW Government’s shared equity trial:

  • Up to 3,000 spots will be available each year for two financial years;
  • Key worker first home buyers who are nurses, teachers or police – as well as older singles over 50 and single parents with a child or children under 18 years old can apply;
  • Participants must have a maximum gross income of $90,000 for singles and $120,000 for couples;
  • Participants must have a minimum deposit of 2 per cent of the purchase price;
  • The Government will take a maximum equity contribution of 40 per cent for a new home and 30 per cent for an established home, and
  • The maximum value of the property that can be purchased under the scheme is $950,000 in Sydney and regional centres including the Central Coast, Illawarra, Lake Macquarie, Newcastle and the North Coast of NSW, and $600,000 in other parts of NSW.
The scheme is planned to begin in January 2023.
 
For more information visit https://nsw.gov.au/shared-equity-scheme

Related Articles: #FamiliesandCommunities | #Infrastructure

‘Build to Rent’ Hearing Shows Labor’s in Disarray on Housing

‘Build to Rent’ Hearing Shows Labor’s in Disarray on Housing

‘Build to Rent’ Hearing Shows Labor’s in Disarray on Housing Today’s Senate Economics Committee hearings demonstrate Labor is out of ideas on housing.

7 August 2024

Building approvals hit 12 year low under Labor

Building approvals hit 12 year low under Labor

Labor’s failed approach to housing including new taxes on building homes, has resulted in building approvals hitting a 12 year low in NSW.

31 July 2024

Labor housing announcement missing key ingredient

Labor housing announcement missing key ingredient

Instead of funding the necessary infrastructure to support the additional housing NSW needs, the Minns Labor Government’s lack of Budget control means announced new developments will not be ...

10 July 2024

Authorised by Chris Stone, Liberal Party of Australia, NSW Division, Level 2, 131 Macquarie Street, Sydney NSW 2000.

Donations by individuals to registered political parties of between $2 and $1,500 in a financial year are tax deductible. Phone: 02 8356 0300.

Privacy Policy

Liberal Party NSW