Abstract
In the 1980s, rising house prices in Australia's major capital cities, coupled with the high cost of housing finance, have effectively excluded many families from purchasing a home. In response, the Victorian Ministry of Housing and Construction, in late 1984, introduced a home loan scheme that provided inflation-adjusted mortgages with repayments set at 25 per cent of family income. Using data from the first two rounds of the Australian Institute of Family Studies five year Capital Indexed Loan (CAPIL) Evaluation Study, this paper examines some of the outcomes of this scheme by comparing families in the Capital Indexed Loan Scheme with a matched group of families in the public and private rental sectors. The findings show the impact of both tenure and family type on economic gains, housing costs and housing satisfaction.
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