In this episode of Finance in Five, we break down the latest federal budget announcements, including tax cuts and a housing package that could help aspiring homeowners. We discuss the impact of these changes on borrowing power and the housing affordability crisis, as well as explore affordable suburbs in Perth and the ban on rent bidding in Western Australia.

Highlights of this episode:

1. Federal budget announcements include tax cuts that could increase borrowing power.
2. A housing package aims to address the affordability crisis but has received mixed reviews.
3. The gap between wages and property prices continues to widen.
4. Affordable suburbs in Perth offer homes for under $350,000.
5. Western Australia has introduced a ban on rent bidding, which could level the playing field for first home buyers.
6. Tax cuts stimulate the market, potentially increasing house prices.
7. Government's infrastructure investments are a long-term strategy that won't provide immediate relief.
8. The Help to Buy scheme is being negotiated and could make a significant difference for homebuyers.
9. Borrowing capacities have fallen due to rising interest rates, but tax cuts could help recover some of that capacity.
10. Rent bidding is now illegal in Western Australia, with fines for those who violate the ban.

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