Housing affordability is a major issue, particularly for young Australians looking to enter the property market.
The Federal Government's 5% deposit scheme initiative will significantly reduce the amount of time first home buyers need to save for a deposit and could potentially save them thousands of dollars.
Bendigo Bank supports measures which help young singles, couples and families realise their dream of home ownership sooner and looks forward to supporting the scheme.
At the same time, the Bank recognises that supply-side challenges such as housing availability, workforce capacity and infrastructure, must also be addressed to ensure the scheme is enabled to deliver its full potential.
These factors continue to be a challenge, especially in the regions, where around half of Bendigo Bank’s branches are located and many of its people live and work.
The Bank acknowledges the efforts of government and the private sector to deliver higher density housing and improved infrastructure and looks forward to working closely with all its stakeholders, as it continues to feed into the prosperity of customers and communities.
Background
Bendigo Bank has provided more than $3.4 billion in lending and assisted more than 8,500 households with their home ownership aspirations through government schemes since 2020.
