Explainer: What you need to know about Australia’s new 5% First-Home Buyer Deposit Scheme

From October 1, first-home buyers can enter the housing market with just a 5% deposit under the government’s expanded scheme. Here’s how it works, who’s eligible, and why experts say it could change the property market.

Labor announces an expansion of its first home buyer deposit scheme Credit: Storyblocks / Amazing Aerial

Key Points

• How It Works: Buyers pay only 5% deposit; the government guarantees the remaining 15%, avoiding costly lenders’ mortgage insurance.
• What Changed: No more income caps, higher property price limits, and access for all first-home buyers.
• The Debate: Supporters say it helps young Australians get into the market sooner; critics warn of rising property prices and debt if supply does not increase.

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Explainer: Ano ang 5% Deposit Scheme para sa First-Home Buyers sa Australia?

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