Overview

• From October 1, eligible first-home buyers can purchase with a 5% deposit as the government guarantees the remaining roughly 15%, removing the need for lenders' mortgage insurance.
• Expanded access includes income thresholds of up to $125,000 for individuals and $200,000 for couples, with higher property caps such as $1.5 million in Sydney, $950,000 in Melbourne and $1 million in Brisbane.
• Treasury expects about 20,000 more guarantees in year one under the uncapped scheme, and its modelling points to an aggregate house price impact of around 0.5% after six years.
• The announcement is paired with a pause on non‑essential National Construction Code changes until 2029, with safety and quality updates continuing.
• The government will also expedite federal environmental approvals to clear a backlog of roughly 26,000 homes, as critics warn expanded demand could add to local price pressures.