Similar set-ups exist in Britain, and the Turnbull government’s scheme would see potential first home owners able to buy a home without a deposit, if the rent cost was in line with a mortgage repayment.

The government has been think-tanking on the country’s housing market this week, and the rent-to-buy scheme was put forward by Nationals MP Andrew Broad.

Mr Broad told Fairfax Media that the current 10 to 20 per cent deposit needed to secure a mortgage was “beyond reach” for many Australians looking to buy their first home.

He said it was also “unnecessary if a person has a good record of paying rent and a clean credit history”, The Age reported.

Such a scheme would be a life-changer for Tasmanians, and a game-changer for the Tasmanian property market.

Many young people are leaving Tasmania, seeking greener pastures elsewhere.

What if we were to attract the young people from interstate?

Tasmanian house prices are among the lowest in the country – even in cities like Launceston and Hobart.

What an attractive prospect, for a young person, to own their own home and pay a mortgage equal to their rent.

A quick search on Domain shows that there are 140 (give or take) houses for sale in Launceston and its suburbs, for under $250,000.

On a $250,000 house, a rough mortgage calculation works out at a repayment of $780 a month.

That is not a figure unreachable for young people with a full-time wage.

Sure, we can turn them away and tell them to knuckle down, to save their pennies.

But at the same time – Tasmania is rapidly losing its youth. 

We need to keep our young people here.

They give us a future, new ideas, and vitality.

Providing them with attractive housing options could help to do that.

And while we’re at it, we might just rope in a few interstate first-home buyers as well.

The federal government is considering housing affordability at present, ahead of unveiling the budget in May, and is reported to be considering a host of policies that it hopes will fix the industry.

It will be interesting to see which ones they decide to progress with.