Senate Inquiry’s Renewed Focus on Housing

The key determinant of your success in retirement is your home ownership status, not your super balance.

The Senate Economics Committee has extended the Senate Inquiry examining Australia’s Retirement System.

Labor has clearly given up on the great Australian Dream of home ownership.

Giving subsidies to foreign fund managers and big super funds won’t increase home ownership. It will only place home ownership out of reach for a generation of Australians.

Expecting Australians to rent in retirement will rob them of the quality of life they deserve.

To maintain the outcomes expected in retirement, the Inquiry will now consider:

• Expanding the Coalition’s existing Super Home Buyer policy;
• Other ways super can be used to increase home ownership; and
• Potential ways to establish super/mortgage accounts.

Naturally, these changes need to be accompanied by serious supply reforms.

The Committee has agreed to extend the reporting date of the Inquiry by 12 months, to 30 June 2025.

Extending the Inquiry will give the Senate time to develop alternative directions on home ownership that rewards aspiration.

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