SUBJECTS: Labor’s Regional First Home Buyer Support Scheme; Federal election; Labor’s policy agenda; NRL; Rabbitohs.
 
STEVE GRAHAME, HOST: We were literally talking about how the great Australian dream of owning a home is just slipping away.
 
TANYA WILKS, HOST: And in our region, in the Hunter, we have seen price increases of over 30 per cent in the last two years. And we keep wondering how the kids are ever going to afford it. So, we've got Anthony Albanese with us. Good morning.
 
ANTHONY ALBANESE, LEADER OF THE AUSTRALIAN LABOR PARTY: Good morning. Good to be with you.
 
WILKS: You too.
 
GRAHAME: Good that you're onto this, mate. It is obviously, as you know, a major voter thing. Okay, tell us what you've got.
 
ALBANESE: Well, it is a huge issue. We'll help 10,000 first home buyers a year in regional Australia to buy a home. And we'll do that by ensuring that they will only need a deposit as low as five per cent, by guaranteeing, through the government, up to 15 per cent of the purchase price. What that will do is mean they don't have to go out and pay mortgage insurance. That will save up to $32,000 a year there in Newcastle and the Hunter region.
 
WILKS: Is there going to be a price cap on the property itself, Anthony? Because, I ask this, suburbs, and you'd be aware, suburbs like Mayfield, and I'm only just using inner-city suburbs at the moment, a couple of years ago, 600, 500, that was considered expensive. A three bedroom, one bathroom, one car garage, it's over a million bucks now.
 
GRAHAME: So, when you're looking at percentages, though, is there a cap?
 
ALBANESE: The price cap for Newcastle will be 800,000.
 
WILKS: Okay.
 
ALBANESE: Most people who are buying their first home, I bought a two-bedroom semi. That was my first home. People would cry if I tell you how much I paid for it. It was something that began with a one. You can't buy a garage for that these days.
 
GRAHAME: It's so true.
 
ALBANESE: And it's just so tough.
 
GRAHAME: And a very good focus for the Government.
 
WILKS: How do the people, like you say, 10,000 for regional Australia, how do people qualify and how do they get involved?
 
ALBANESE: They qualify if they live outside a capital city already. So, it's people who are living in the regions. If they're a first time homebuyer over the age of 18, if they are going to live in it, so, it's not for investment properties, they've got to live in the home that they're buying. And they have to have lived in the region for at least 12 months. It's really making sure that we support those people in regional Australia who are trying to get into the market. There are some limits in terms of income. A taxable income of up to $125,000 a year for singles and $200,000 a year for couples.
 
WILKS: I think that's good.
 
GRAHAME: On the housing, we should finish with this. Are you willing to put your house on Souths beating Roosters tonight?
 
ALBANESE: I won't put my house on it. I'm very nervous about our prospects. It was a bit rough last week. We came back from 14-0 to 14-14 and then lost in extra time again. We are zero for 19 in Melbourne. We have never beaten them.
 
WILKS: Well, we're on top of the table.
 
ALBANESE: The Knights are going exceptionally well.
 
WILKS: Yes, we are.
 
GRAHAME: Cop that, Albo.
 
ALBANESE: I have a soft spot for the Knights.
 
WILKS: Thanks for chatting to us. Appreciate the time.
 
ALBANESE: It is a great rugby league city.
 
GRAHAME: Good on you. That is Anthony Albanese, Opposition Leader.
 
ENDS