Local News

King calls for cap to be lifted on first home loan deposit scheme



Federal Member for Ballarat Catherine King has called on the Federal Government to lift the cap on the First Home Loan Deposit Scheme for first home buyers in Ballarat who build new homes.

Work in the housing construction industry is forecast to drop and may result in a sharp decline in work for around 8,493 tradies and 2,598 small and family businesses working in construction in Ballarat.

“Almost one million people work in the construction industry, with around 8,493 of them working right here in Ballarat,” Catherine King said.

The First Home Loan Deposit Scheme currently assists 10,000 first home buyers each financial year to purchase a home with a deposit of as little as five per cent without the need to purchase mortgage insurance.


Image: Radio Ballarat