CEDA revives calls for young Australians to dip into super
A national think tank has revived calls for first home buyers to be able to dip into their superannuation to get into the property market.
The Committee for Economic Development of Australia is pushing the government to overhaul the retirement income policy amid decreasing housing affordability.
The think tank’s CEO Stephen Martin told Tom Elliott on 3AW Drive the long-term repercussions needed to be take into account.
‘The concerns we have expressed come down to the fact that housing affordability at the moment is practically pricing young people out of the market in Sydney, Melbourne and many other places on the east coast,’ he said.
‘How can these young people get a start in life?
‘The point we would make is this is an entry level thing for first home buyers who are going to be owner occupiers.’
In March, Treasurer Joe Hockey raised the prospect of allowing young Australians to access their super.
But Tom Elliott was adamant it was a bad idea.
Listen: Tom Elliott clashes with CEDA chief Stephen Martin