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superannuation

Pouring super onto the overheated housing market will make the nation's retirement savings go up in flames

A fundamentally flawed proposal to bust open super for first home buyers housing deposits could hike the nation’s five major capital city median property prices by between 8-16%, preliminary analysis from Industry Super Australia shows.

Allowing couples to take $40,000 from super would send property prices skyrocketing in all state capitals, but the impact would be most severe in Sydney, where the median property price could lift a staggering $134,000. (see table 1 below)

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