Nearly 1,500 properties bought using Australia’s first home buyers' 5% deposit scheme converted into investments
New data reveals that nearly 1,500 properties purchased under Australia's 5% deposit scheme for first-time buyers have been converted into investment properties. Critics argue the scheme is being exploited by high-income earners and investors rather than helping low-income first-home buyers.
Australia’s 5% deposit scheme for first home buyers ‘shouldn’t benefit the wealthy and property investors’, the Greens say. Photograph: Sam Mooy/AAP Australia’s 5% deposit scheme for first home buyers ‘shouldn’t benefit the wealthy and property investors’, the Greens say. Photograph: Sam Mooy/AAP Housing Nearly 1,500 properties bought using first home buyers’ 5% deposit scheme converted into investments New data shows the federal government scheme has been used by high-income borrowers, including one couple earning an annual $674,000
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