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Labor home buyer revolution as Anthony Albanese plans to spend millions to open up property market

Anthony Albanese is set to unveil a revolutionary plan where a Labor government will pay up to 40 per cent of the sale price of homes to make it easier for buyers to get on the property ladder.

Soaring real estate prices has seen millions locked out of the property market with seven-figure house prices and massive deposits making home-buying impossible for many.

Under the key new election pledge – to be announced at Labor’s official election campaign launch on Sunday – up to 10,000 homebuyers each year will be eligible for the Labor leader’s Help To Buy scheme

Labor says the radical solution will mean a smaller deposit, a smaller mortgage and smaller mortgage repayments.

The party claims the plan will cut the cost of a mortgage by up to $380,000 in some parts of Australia.


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