From 1 October 2025, the Australian Government is making important changes to the Home Guarantee Scheme to help more Australians enter the property market. Here are the three key updates you need to know:
1. Unlimited Places
Previously, there were capped numbers of places available under the scheme. From October 2025, the program will become uncapped, meaning there are no limits on how many eligible first home buyers can apply for support.
2. Higher Property Price Caps
The maximum purchase price allowed under the scheme will increase. For example, in New South Wales, the cap for capital cities and major regional centres will rise from $900,000 to $1.5 million. Similar increases apply across other states and territories, giving buyers more flexibility in choosing a home.
3. Simplified Access
Income caps are being removed, and the Regional First Home Buyer Guarantee will merge into the broader scheme. This makes the process easier to navigate, whether you’re buying in a city or a regional area.
Why This Matters
For first home buyers who have saved at least a 5% deposit, these changes may reduce barriers to entering the property market by removing lender’s mortgage insurance and broadening the pool of eligible homes.
Note: This information is general in nature and based on updates from Housing Australia. It should not be taken as financial advice. For personal guidance, always speak with your broker, lender, or financial advisor.
