Brisbane home ownership faces increasing challenges due to proposals

Sam Bahrij, a 34-year-old from Brisbane, can no longer afford to live alone due to a $210 increase in his rent over the past year. Rents in Brisbane have risen 58% since March 2020, forcing many tenants to seek housemates or delay home ownership. A new proposal allows first home buyers to access up to $50,000 from their superannuation for deposits. However, recent modeling suggests this could raise house prices by 7 to 10% over two years, making home ownership even less attainable. The Albanese government has introduced several measures to tackle the housing crisis, including a shared equity program for first-home buyers. However, scrutiny has arisen over delays in building new homes, with no new constructions reported under a key funding initiative.