Real estate agents are applauding a government proposal which could make it easier for first home buyers to enter the market.
Next year the government will trial a pilot shared-equity scheme
would could see the government footing some of the mortgage which
would be reimbursed on re-sale. The nuts and bolts of the pilot
will be worked out later this year.
The National Party believes the equity scheme won't help
everyone.
National housing spokesman Phil Heatley says even if it helps a
few hundred people it still leaves tens of thousands of people
without access to their own home. He is also concerned it might
drive up house prices.
But Peter Thompson of Barfoot and Thompson says anything to help
out first home buyers is a good idea and he doubts the move
will fly in the face of Reserve Bank intentions to cool the housing
market.
