"An often neglected group of Aussies will get a huge boost in the Federal Budget on Tuesday, allowing them to do something many didn’t think was possible. Single parents will be backed to buy their own home with a deposit as modest as 2 percent under a new housing program to be announced in Tuesday’s budget.
As part of the new scheme, the government is also set to allow access to superannuation savings which will be expanded from $30,000 to $50,000 to help buyers get into the market.
The program, to be known as the Family Home Guarantee, is designed to help single mothers and fathers overcome one of the “biggest hurdles” to achieving the dream of homeownership.
The new Family Home Guarantee for single parents will support up to 10,000 single parents with dependants over four years, commencing 1 July 2021."
"When the Perth market hit the bottom in the June 2020 quarter, the Perth median house price sunk to $475,000. A lot of home owners lost value in their properties during the downturn, so it’s pleasing to see the quick gains that have occurred over the last eight months.