Retirees will be able to inject up to $300,000 into superannuation if they sell their home after they reach the age of 65 as part of a series of measures designed to boost housing supply.

From July 1, the limit on the amount of after-tax money that can be contributed to super will fall to $100,000 a year, but under a scheme unveiled in Tuesday's budget, from July 2018 individuals who sell the family home will be allowed to contribute up to three times that amount if they pump the proceeds from the property sale into super.