Master Builders Australia has supported the recent federal government expansion of housing programs that aim to provide first homes and strengthen economic recovery.

“The release of 30,0000 new places in the highly successful First Home Loan Deposit Scheme, New Home Loan Guarantee and the Family Home Guarantee will boost the economic security of thousands more people, including single parents, and continue to accelerate the recovery,” Master Builders Australia chief executive Denita Wawn says.

“We know that the deposit gap is the greatest barrier to people owning their first home. Right around the country, we are witnessing the success of the Government’s housing policy measures to help people to bridge this gap.”

She adds that the Family Home Guarantee will help thousands of single custodial parents, mostly women, access life-changing benefits of home ownership.

“Lifting the price caps for these schemes will also make them more accessible to more people and that’s a very good outcome,” Denita says.

“With every one dollar spent in building new housing resulting in three dollars benefit for the wider economy, it is clear why the federal government’s measures are having such a strong positive effect.”