Nearly 1,500 properties bought using Australia’s first home buyers' 5% deposit scheme converted into investments

New data shows Australia's first home buyers' five percent deposit scheme has been used to purchase nearly one thousand five hundred properties that were later converted into investments. The Guardian reports the scheme is also helping high-income borrowers—including one couple earning six hundred seventy-four thousand dollars annually—after the government stopped excluding people earning above three hundred thousand dollars per year.

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