In the current housing market in many areas of Australia, owning a first home for many people is now out-of-reach. Typically, first home buyers must save for at least seven years to obtain a $250,000 deposit for a house.
There are government programs to assist. The first home buyers scheme allows homebuyers to pay a 5% deposit for a home under $700 000 and the government guarantees the loan. However, most houses in Sydney will be sold for well over that amount (the average price nationally is now almost $1,000,000), and the government can lose money in this process. Furthermore, housing prices are still rising, making it harder for future generations to afford houses.
I decided to look at this problem from a different perspective: reducing the environmental impact of housing can be prioritised along with financial costs. My solution involves a new proposed government program that combines small Crown Land release packages with modular and scalable container housing, providing an affordable and ‘green’ first home buying solution.