Melbourne house prices could jump $70,000

Melbourne house prices could jump $70,000 if homebuyers start dipping into their super funds, according to a recent article on realestate.com.au.

Modelling from the Super Members Council revealed how moving retirement savings into housing could worsen already sky-high home prices, taking aim at the Coalition’s proposed Super Home Buyer Scheme.

“Until we start getting more approvals for more housing and more infrastructure, it’s just going to really exacerbate the issue even further,” Ms Andrews said.

“If property prices continue to go the way they are, bringing that extra demographic in is just going to drive it up further and compound the problem.

“While it seems like a romantic idea helping people buy; we just simply need more housing.”