[28 September 2022]
The Property Council of Australia today welcomed the Albanese Government's move to support regional homebuyers under its new Regional First Home Buyer Guarantee scheme.
The scheme, first announced during the recent federal election, allocates 10,000 spots each financial year to June 30, 2025, to regional home buyers with a deposit as little as five per cent, and is available under the government's existing Home Guarantee Scheme.
Property Council Chief Executive Ken Morrison said the targeted support for first home buyers living in regional Australia will make it easier for more Australians to access housing. "Regional Australia has seen steep increases in prices making it difficult for locals to save for a deposit," Mr Morrison said.
"Bridging the deposit gap is a significant problem for first-time home buyers, and the Regional First Home Buyer Guarantee scheme is a well-designed scheme that will assist eligible home buyers enter the market.
"The expansion of the Home Guarantee Scheme to support regional buyers will make it easier for more Australians to secure their dream of home ownership and is a welcomed initiative," he said.
