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Regions to get share of NSW home program

Half of a NSW government scheme to help aspiring homeowners buy their first property will go to the state’s regions.

It will see 1500 first homeowners split purchasing costs and share ownership with NSW.

NSW Premier Dominic Perrottet says housing would be an issue for young people for generations without a fix.

He decried how most regional policies appeared to be aimed at seniors at The Daily Telegraph’s Bush Summit on Friday.

“We have to continue to drive this (lifting housing supply) because we cannot have an Australia that can’t house its children,” Mr Perrottet said .

“It’s not just people today, it’s young people in the future not being able to get into the housing market.”

The shared equity scheme means aspiring homeowners only need to come up with 2 per cent of the deposit cost for properties valued up to $950,000.

NSW will then put in 30 per cent of the price for existing homes or 40 per cent for new builds while also taking shared ownership of the property.

Mr Perrottet also said the NSW government was considering echoing Victoria’s “cash for clunkers” scheme which gives regional residents aged 18 to 25 up to $5000 to buy a newer model car.

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