The expansion of the First Home Guarantee Scheme to every first home buyer who will be eligible to buy a home with a five per cent deposit and avoid lenders mortgage insurance, guaranteed by the government with no income caps or caps on places, was due to commence from 1 January 2026, but will now be brought forward to 1 October 2025.
Property Council Chief Executive Mike Zorbas welcomed the fast-tracked expansion of the First Home Guarantee Scheme to support first home buyers entering the housing market.
"The average age of first home buyers in our capital cities is approaching 40 and we must pull every available lever to help them into a home," said Mr Zorbas.
"You stack yesterday's supply boosters on top of helping first home buyers bridge the deposit gap, and we have a better chance of making our welcome 1.2 million homes target.
"Maintaining confidence in the key consumer segments of the domestic economy has become significantly more important in the current period of global uncertainty.
"That said, and I cannot emphasise strongly enough, scheme design will need to be carefully reviewed on a regular basis from 1 July 2026 to ensure key housing markets do not overheat."
Mr Zorbas underlined the vital balance between this demand-side support and the significant supply-side measures catalysed by the National Housing Accord, as well as those announced by the government following the Economic Reform Roundtable process.
"At the end of the day supply, supply and supply are the keys to our terrific and ambitious 1.2 million new homes target. That's why the measures announced yesterday – improvements to the National Construction Code and streamlined processes to clear assessment backlogs, plus delivering up to 35,000 additional new homes through a review of investment settings – are most welcome, alongside this measure to get more first home buyers onto the ownership ladder," he said.
