As Baby Boomers claw back their superannuation losses, there are fears many could fuel a property boom by buying investment homes with their self-managed super funds. A little-known rule change could enable thousands of super savers to use their fund as a deposit on an investment property, which could spark more demand for property just as the Federal Government winds back the first home grant.

The Sunday Telegraph has reported that economists say it would take only a fraction of the $300 billion sitting in the country’s 400,000 self-managed super funds to spark a housing boom.

AMP Capital’s Shane Oliver says a rush of new investment in housing could prompt the Reserve Bank to raise rates faster than previously thought. “The Reserve Bank is already worried about a house-price bubble and this will be the last thing it wants to hear,” Oliver says.

 

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Tags: First Home Buyer, Investor, Superannuation

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