The Albanese Government is helping thousands more Australians into homeownership by expanding the Home Guarantee Scheme.
From today, 1 July 2022, the Scheme will be expanded to include:
- 35,000 places each financial year to support first home buyers to purchase a home with a deposit of as little as five per cent (the First Home Guarantee); and
- 5,000 places each financial year to support single parents with dependents to purchase a home with a deposit of as little as two per cent (the Family Home Guarantee).
From today updated property price caps will also apply, reflecting recent increases in property prices and to make more properties available for purchase using the Scheme.
The table below details the updated property price caps that will apply from 1 July 2022.