Coalition plan to give first home buyers access to super would benefit ‘those who already own housing’

Saul Eslake report finds plan would cause Australian property prices to rise at a faster rate

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The Coalition’s plan to allow first home buyers access to their superannuation would heavily favour older and wealthier people, with the median couple aged 25 to 34 likely to be able to withdraw only $18,000.

That is the conclusion of Saul Eslake, the principal of Corinna Economic Advisory, in a report commissioned by the Super Members Council which points to “six decades of evidence” that policies to boost housing demand “result in more expensive housing to the benefit of those who already own housing”, rather than boosting ownership.

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