SA election 2022: What’s been announced week 3

First home buyers will get some help under a low-interest loan scheme promised by Labor, while the Liberals have pledged to double the popular sports vouchers program.

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SUNDAY, MARCH 6

Labor leader Peter Malinauskas unveiled his plan to make housing more accessible for first time homeowners in South Australia, while the Liberals have announced a new round of sports vouchers.

The opposition will work with government-backed lender HomeStart, to develop a low deposit home loan that will only require a three per cent deposit if elected.

“While rising property values ​​have been great news for homeowners, so many young South Australians have seen their dream of home ownership slipping away,” Mr Malinauskas said.

“If more young South Australians can enter the property market now, it sets them up for the future.”

First home buyers will be eligible for the scheme if they are a South Australian resident and are purchasing a newly-constructed home or building a new home, following HomeStart lending criteria.

These first home buyers will also be entitled to the existing First Home Buyer grant of up to $15,000.

The policy announced earlier this morning is cost-neutral to the state budget with additional loans generating additional stamp duty, nearly all of which is paid out in additional first homebuyer grants to buyers.

The plan will also provide additional support for the local construction industry.

Meanwhile, Steven Marshall has announced he’s reintroducing the sports vouchers program, this time doubling the amount to $200 if he’s re-elected.

Around 100,000 vouchers will be claimed by new clubs and sporting applications, which will cost $20 million over two years.

“Taking $200 off sporting fees per child provides a welcome relief for households who can put the cash towards other cost-of-living pressures without having to restrict their child’s lifestyle,” Mr Marshall said earlier this morning.

“Combined with our $100 school fee discount at public schools, the average South Australian family is now saving $300 per child per year.”

Sport Minister Corey Wingard said the scheme would create new opportunities for younger generations.

“Playing sport supports a healthy lifestyle, keeps our kids active and gets the whole family involved in our local communities,” he said.

Last year, 85,000 vouchers worth about $8.5m were claimed by South Australian families, with about 100,000 expected to be claimed under the new round.

“We want to see this grow,” Mr Wingard said.

Originally published as SA election 2022: What’s been announced week 3 | Labor’s first home buyers pledge, Libs double sports vouchers program

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