First home saver accounts a fizzer
The Housing Industry Association has called on the Government to do more to promote its First Home Saver Account initiative, declaring that the scheme has not worked.
HIA economist Ben Phillips has estimated the total of deposits in First Home Saver Accounts to be just $13 million in total. Phillips said the initiative was overshadowed by generous first home buyer grants. He said use of the scheme would increase if the Government advertised it.
Source: The Sheet