Housing Minister Michael Sukkar has slammed critics of the Coalition’s housing policy, claiming much of the noise is coming from inside the superannuation industry.

Under the policy, first-homebuyers will be able to access up to 40 per cent of their superannuation to a maximum of $50,000, and put it towards a deposit.

The property must also be an owner-occupier purchase and the owner must live there for at least 12 months.

The investment would return to the owners superannuation fund once the house is sold.

Critics of the policy say it will drive up house prices, however housing minister Michael Sukkar says the superannuation industry don’t like losing control of funds.

“There are many in the industry who see the money as theirs,” he told Gareth Parker on 6PR Breakfast.

“Theirs to control, and they don’t like people having control over it.

“They’re the ones who are criticising it, but no, this has received overwhelming support from first-homebuyer groups, from the Master Builders Association, the Housing Industry Association.”

Press PLAY to hear the full interview below

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