Money talk
Own your first Aussie home
The federal government have announced exciting changes that will come into effect from 1 October 2025 that will make owning your first home in Australia easier.
The Australian Government will expand on the Home Guarantee Scheme by introducing the following changes to the scheme:
- No limits on places
- No income caps
- Increased property price caps in line with average house prices
- The Regional First Home Buyer Guarantee will be replaced by the First Home Guarantee, with no limits on places.
No limits on places
All Australians looking to buy their first home in Australia, will be eligible to apply, expanding access to the scheme. First home buyers will be able to enter the property market with a deposit as little as 5% while also avoiding Lenders Mortgage Insurance (LMI), with the government guaranteeing a portion of the home loan. This means you can start paying off your home loan sooner and stop paying rent.
No income caps
Those earning more than $125,000 a year or have a combined taxable income of $200,000 a year who previously were not eligible to apply, will be able to access the scheme from 1 October 2025.
Increased property price caps in NSW
In NSW (Sydney, Illawarra, Newcastle and Lake Macquarie), the property price cap will increase from $900,000 to $1,500,000. Other parts of NSW will increase from $750,000 to $800,000.
All our homes available in South West Sydney, Western Sydney and North West Sydney are under $1,500,000. See our available homes for sale in Sydney here.
All our homes for sale in regional NSW are all under $800,000. See our available homes for sale in regional NSW here.
Increased property price caps in the ACT
In the ACT, the property price cap will increase from $750,000 to $1,000,000.
We have two beautiful, 4 bedroom completed homes in Horizon Hill, Strathnairn available at well under the price cap. See our available homes for sale in the ACT here.
How do I apply for the scheme?
- From 1 October 2025, a new eligibility tool will be available on the Housing Australia website or speak to a mortgage broker such as Mortgage Advice Bureau to understand your eligibility. A mortgage broker can help you apply for the scheme with Housing Australia and pre-approval with a lender.
- Check the new property price caps in the table here.
- Check eligible homes on our website. We have many homes available under the property price caps in Sydney, regional NSW and the ACT.
For more information, check the Housing Australia website, book an appointment with a mortgage broker or contact us.
FAQs
How many places are available under the new Home Guarantee Scheme?
From 1 October 2025, there will be no limits on places for the Home Guarantee Scheme.
How much deposit do I need for the Home Guarantee Scheme?
You need to save a minimum deposit of 5% of the property value. The property value is assessed by the participating lender and may be different to the purchase price. Speak to a mortgage broker or your lender for advice.
Do I have to be a first home buyer to apply for the Home Guarantee Scheme?
First home buyers or those who have not owned a property in Australia in the last 10 years can apply for the Home Guarantee Scheme.
Do I have to live in the home I buy?
Yes, you will need to be an owner-occupier of the property that you buy under the Home Guarantee Scheme.
What type of home can I buy under the Home Guarantee Scheme?
You can buy a new or existing residential property that you will live in as an owner-occupier.
Do I need to live in a regional area to be eligible for the First Home Guarantee if I want to buy in a regional area?
You, or your joint applicant, must have lived in the same or adjacent regional area that you’re buying in, for the 12 months up to the home loan date. You can use this tool to check eligibility.
