Wednesday 27^th July 2010

Independent Candidate for Wannon today called for an extension of the First Home Owners Scheme to enable low income earning Australians the opportunity to own their own home.

“My idea is for the government to loan eligible families the money to buy their first home. Low interest set at an annual rate – 2 percent for example – would be charged to cover costs,” said Mr O’Brien.

Homes would ideally be selected from an approved range of designs, ensuring that the homes meet energy efficiency standards and not exceed a set price limit. Land would be purchased and developed by the government to ensure homes are affordable for those at average or lower incomes.

“I would suggest that the homes come with conditions, such as not being able to be sold at unfair profits, and that homes bought under the scheme can only be sold to families eligible for the scheme,” explained Mr O’Brien.

“This will be a boom for the building and associated industries with a guarantee of work for years to come. The homes may be terrace houses, certainly not mansions, but they will be homes.

“Home ownership is something all working Australians should be entitled to. Current banking conditions and the real estate market make it very difficult to impossible for many people who can afford to make regular payments and who have a secure income.”

“I believe that the government should assist these families. If it can assist large corporations with loans, concessions and tax breaks, then it can do this for the taxpayers.”