Greens and housing specialists contend that policies allowing first-time homebuyers to borrow beyond typical limits only drive up property prices, failing to increase homeownership rates.
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Recent research reveals that millions of Australians who qualify for the federal government‘s new 5% deposit scheme may struggle to manage mortgage repayments. Analysis conducted by the Parliamentary Library, commissioned by the Greens, indicates that among the 3.8 million Australians working in the ten most prevalent occupations nationwide, most would face financial strain trying to service a mortgage on a median-priced home.