Minister for Housing Michael Sukkar believes “no one” will be interested in Labor’s proposed shared equity scheme.

Labor outlined a new shared-equity scheme over the weekend.

The scheme would see a Labor government buy 30 to 40 per cent of a property with the buyer.

That portion of the property would then be owned by the government and could be bought by the homeowner over a period of time.

Michael Sukkar told Ray Hadley the scheme is the “last thing anyone would want”.

“The last thing you would want is to take one of these up, which is why this is just a policy that is undercooked and really quite disastrous.”

Press PLAY below to hear the Minister’s full comments