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Super For Homes Not So Super

Super For Homes Not So Super

The Superannuation industry is rebuffing calls for first-home buyers to be able to access their retirement savings early to buy property.

A report from the Association of Superannuation Funds of Australia says allowing early access will really only help those who could have afforded to buy without having to access their super.

And it warns it could drive up house prices by increasing demand.

ASFA chief executive Mary Delahunty says this would mean people on lower or moderate incomes will still feel locked out of the market.

But Hotspotting founder Terry Ryder dismissed the comments as self-serving and not based on any research analysis.

"The comments from big super are the voice of vested interest, always the biggest noise in real estate," he said.

"Whenever anyone puts forward a proposal to help first-home buyers, there are claims it will push up property prices.

"But no one has ever produced any research to support that claim. I see this as a major furphy."


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