News
7 October, 2024
Public bank ‘will ease pain’
THE Queensland Greens say they will establish a public bank to help alleviate mortgage stress and make homeownership more affordable.
THE Queensland Greens say they will establish a public bank to help alleviate mortgage stress and make homeownership more affordable. Using data from Digital Finance Analystics showing 40 per cent of households in the region are experiencing mortgage stress, the Greens say their plan would save the average homeowners $514 per month.
The party said that Queensland owner occupiers could access a variable home loan from the Greens’ state-owned bank with an average 5.32 percent interest rate, 1.5 per cent lower than the Big Four banks. Greens candidate for Caloundra, Peta Higgs, said people should not have to make the choice between health care and paying for a roof over their heads.
“Sunshine Coast households are experiencing mortgage and rental stress in unprecedented numbers with no relief in sight,” she said.
“As a doctor working in the public health sector, I know that everyday Queenslanders are in desperate need of help for housing and rental costs. “People are putting off going to the doctor because they can’t find one that bulk bills, or can’t afford to go to the dentist or specialist at all. All just to scrape enough to pay their rent or mortgage.”
In a separate announcement the Greens announced a $60bn plan to build 100,000 affordable homes over the next six years as well as freezing rents for two years.
“(We) want to build homes that people can actually afford to buy or rent with a publicly owned property developer and to clear the social housing wait list,” Dr Higgs said.
