“The Finance Brokers Association of Australia (FBAA) strongly supports the Federal Government announcement that tonight’s budget will include measures to increase home ownership.”

“In particular we welcome the support to first home buyers, single parents and women.”

“This budget can be a turning point in the lives of many people who deserve a break – including younger couples starting out and single parents. It will be exciting for many Australians.”

“Home ownership has become more difficult in recent times and this has a flow on effect across the economy, so these initiatives are urgently needed.”

“One note of caution however. In extremely low interest rate environments that create soaring house prices, government incentives to enter the housing market with very little deposit mean that some people could end up with a negative equity position when interest rates rise again and property prices fall or correct. Therefore the FBAA still encourages people to save as much deposit as possible as this will leave borrowers in a far better position in the long term.”

“However overall, our advice is to never leave it too long to enter the property market as prices will always keep rising in the long term.”