Posted April 12, 2017 19:05:17

Photo: Buyers agent Briony Carnohan, 29, is looking to buy her first property. (ABC News: Kathleen Calderwood)

While tapping into superannuation might be the boost needed for aspiring Sydney home owners, some young people are not jumping on the idea.

The proposal to let young people use their super to buy a home has attracted mixed reactions from politicians — which is also being mirrored by a divided public.

In Sydney, where the median house price is over $1 million, buyers agent Briony Carnohan has clients across a range of demographics.

Allowing superannuation to be used for home deposits would facilitate a great intergenerational theft, argues Michael Janda.

She said the first home buyers she deals with feel like they are missing out "over and over again".

"We're actually seeing a lot of people getting help from their parents," she said.

"It's the main thing because otherwise you've got to save and pay rent at the same time and they're finding that really difficult."

Ms Carnohan, 29, is also looking to buy her first property.

She said she would consider tapping into her super if it was available, but would not recommend it for everyone.

"I think it sounds good in theory but later down the track it might cause problems for when people actually need that for when they're not working," Ms Carnohan said.

"I would consider it only because I have a pretty good knowledge of the market and I know what's good to invest in.

"The last thing you'd want is somebody to buy a bad investment and then lose money down the track and … they've taken that from their super and they don't have that."

'Who is even buying these houses?'

Brand manager Anmol Sekhon, 29, said both he and his wife earn reasonable money but could not see themselves affording a home in Sydney.

"We don't have any family that can help us or parents or inheritance … I don't know how we'd even buy a house," he said.

"I don't know who it is buying these houses. We're thinking about having kids one day and I guess, for my wife, it's probably a prerequisite to have our own home.

"Realistically I don't think a home is going to happen — maybe an apartment will, but the quality of the apartments are not good quality either."

Photo: Anmol Sekhon, 29, opposes the idea of letting young people tap into their super. (Supplied)

Mr Sekhon is against the idea of letting young people tap into their super.

He cautioned that it would only sustain Sydney's extreme property prices.

"It's not dealing with the issue, why are we helping people who already own a home to give them a tax benefit instead of the person that doesn't own a home at all?

"It's not going to make the world more affordable, it's going to make it less affordable."

'It's shooting yourself in the foot'

Caitlin Williams, 27, said there was "no chance" of her being able to afford a home within an hour of where she currently lives at Hornsby on Sydney's north shore.

Ms Williams lives at home while she studies full time and works part time.

She said tapping into super to buy a home is a terrible long-term decision.

Photo: Caitlin Williams, 27, says there is "no chance" of her being able to afford a home in Sydney. (Facebook: Caitlin Williams)

"That's my nest egg, so when I'm at a point where I can't work anymore that money is going to be what ties me into at least when I'll be having to go into age care," she said.

"On top of that this is one of the better investment options so even though you could buy a house the property market's likely to crash relatively soon.

"[Then] you've lost all that money which if you'd left it in your super [could be] a million, maybe $2million in 50 years when it's time to withdraw it.

"It's really shooting yourself in the foot for a very short term gain."

Topics: superannuation, housing, housing-industry, nsw, north-sydney-2060, sydney-2000, hornsby-2077, australia