Home buyers with a good rental history should not need a deposit
Housing affordability is a constant struggle in Melbourne.
With the median house price now sitting at $800,000, one Local MP has come up with a way to assist first home buyers.
Nationals MP Andrew Broad, the member for Mallee, has suggested buyers with a perfect rental history should be able to purchase a house without a deposit.
Speaking to Neil Mitchell, Mr. Broad says it is a way of ‘swinging back the advantage’ to a first home buyer and not an investor.
‘If you can assist a young Australian to enter the property market sooner…that’s the best step,’ Mr. Broad says.
As long as the house payments are somewhere near your rental price, he thinks banks should consider it.
Click PLAY below to hear the full interview.