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EARLY RELEASE OF SUPER FOR HOUSING

Early release of superannuation for home purchase: why it would not improve affordability

Early release of superannuation would not address housing affordability for first-home buyers.

Worsening housing affordability presents a significant challenge. ASFA supports the aspirations of young people to buy a home and agrees everyone deserves a secure place to live, particularly in retirement.

Our analysis shows it will only benefit those young people who are already more likely to be able to afford a home, and not solve the crippling supply-side deficit that is fuelling our housing crisis.
ASFA examined an ATO sample of 300,000 taxpayers, in combination with ABS data to assess the distribution of superannuation balances for prospective first-home buyers aged 25-34 across Australia’s major capital cities (Chart 6, 7 ), and charted that against the housing deposits required for a median-priced houses and units (equivalent to 20 per cent of home valuation).

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