The Federal Government will extend the First Home Loan Deposit Scheme, adding an additional 10,000 places to stimulate the economy and support construction.
Treasurer Josh Frydenberg will announce on Friday the government will relax tough lending laws imposed on banks and move the onus on to the borrower, making it easier for Australians to get a mortgage.
With home renovations on the rise, new data reveals the average Aussie is spending $63,000 on their reno - over $86,000 shy of the minimum $150k spend needed to qualify for HomeBuilder.