The “First Home Buyers Grant” was introduced in July 2000 by the Howard government of the time.
25 years later federal governments are still trying to come up with ways to help people purchase (their first) property.
For these reasons it might seem like housing affordability and supply issues are a more recent phenomenon, especially in a ‘cost of living crisis’.
However, governments have been providing support for housing since the end of the first world war, possibly longer.
1918 – Ex-service personnel were offered special loans with the option to purchase the building.
Public housing areas were established as early as 1900s (Millers point and the Rocks) but were fuelled by the post war era of 1945 onwards, this built many of Sydney’s suburbs.
1950’s onwards – Governments were heavily involved in housing construction, with a focus on ex-service people after the end of the second world war.
Around the same time, grants for low-income people were offered on some residential loans.
By the 1960s public housing estates and inner city towers were being constructed, primarily for low income, indigenous, people with a disability or elderly people.
By the 1980s public housing was ‘falling out of favour’ (as an idea) for Governments. Government funding and housing construction was reduced.
The ‘Housing Act 1985’ and the ‘Department of Housing’ were established at the same time in the mid 1980s.
Privatisation of the construction and housing sector has been the norm since this time.
That was until the current Albanese Government announced a range of assistance measures, aimed at both supply and demand problems.
Some of these measures are detailed on further pages on our website. Such as what has the Government’s 5% deposit scheme done for property prices?
