Australia say super for a house would inflate property prices and diminish savings
Published: 12 May 2023
Australians know super is for retirement and are concerned proposals to bust open retirement savings for housing would artificially inflate property prices and erode retirement savings, extensive focus group-polling reveals.
The Coalition recommitted to its policy last night of allowing people to use $50,000 from their super for a home deposit – which Industry Super Australia (ISA) is opposed to as it would harm members’ savings.
And research conducted in March by the tri-partisan RedBridge group found participants thought the proposal was inconsistent with the purpose of superannuation and worried it would artificially inflate house prices.