Big news for First Home buyers
What’s changed with the Home Guarantee Scheme?
The First Home Guarantee Scheme has just been expanded (effective 1 October 2025). These changes are designed to open doors for more Australians - including you - and create new opportunities to buy sooner with less deposit and no lender’s mortgage insurance (LMI)
What does it mean?
Unlimited places – No cap on the number of scheme participants.
No income caps – All eligible buyers can now apply regardless of income.
Higher property caps – e.g. Brisbane now $1m, Sydney $1.5m, Melbourne $950k.
Regional scheme merged into one national program.
Deposit requirements stay low - Still only 5% deposit required and no LMI.
Boost to Buy – a new QLD initiative
Announced in the 2025–26 Queensland Budget, this scheme offers an equity contribution to eligible first home buyers:
Up to 30% for new homes
Up to 25% for existing homes
Minimum 2% deposit required
Property value cap: Up to $1 million
Income eligibility:
Singles: Up to $150,000
Couples: Up to $225,000
Applications expected to open later in 2025
Why do these matter?
These changes are designed to reduce upfront costs and make home ownership more achievable for a broader range of Australians. Accompanied with lower interest rate forecasts and population inflows, this is likely to bolster demand and continue to push house prices up higher.
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