Early super access will not improve housing affordability: ASFA

The Association of Superannuation Funds of Australia (ASFA) CEO Mary Delahunty explains why enabling early super access would not improve housing affordability for first-home buyers. “We need to make sure that any solution that we come up with to address that actually makes an impact on the problem at hand,” Mr Delahunty told Sky News Business Editor Ross Greenwood. “So, what we’ve done is taken a sample set of 34-year-olds, so first home buyer type of market, and had a look at whether they had any money in their superannuation to begin with and the answer is no. “Well, they’ve got money in their superannuation (but) certainly not enough. “So if you look at what it costs to get into the market in capital cities … not even a couple or single person could drain their super and still not make it. “They’d be draining their superannuation fund … and pushing on the demand side leaver.”