Federal Election 2019: Day 32 of the campaign

Just hours after Scott Morrison announced a returned Liberal government would allow new buyers to purchase a home with a deposit of just 5 per cent, Labor has said it will match the policy.  FOLLOW OUR ELECTION BLOG 

Scott Morrison  has launched the Liberal Party’s re-election bid in Melbourne with a vow to make entry to the housing market easier for first home buyers.

Mr Morrison announced that a returned Liberal government would enable new buyers to purchase a home with a deposit of just 5 per cent, based on a similar scheme operating in New Zealand.

The new First Home Loan Deposit Scheme will mean first home buyers won't need to save for a full 20 per cent deposit - and it will help them save around $10,000 by not having to pay Lenders Mortgage Insurance.

But just hours after the policy was announced, Labor said it would match the move. 

“After six years of failure, and six days before an election, the Liberals are desperately trying to tell young Australians they understand their struggles to buy their first home,” Shadow Treasurer Chris Bowen said.

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Originally published as Federal Election 2019: Day 32 of the campaign

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