Overview
- In October, 5,778 homes were purchased using the scheme, roughly 10% of about 57,000 sales, including around 2,700 newly eligible buyers.
- The expansion opened access to all income levels, created unlimited places, and raised jurisdictional price caps, with ceilings reported up to about $1.5 million in Sydney.
- Labor says uptake is tracking Treasury’s forecast of roughly 70,000 guarantees over the next year, with modelling estimating a 0.6% price increase after six years.
- Monthly price readings diverged, with PropTrack reporting a 0.6% rise and Cotality 1.1% in October, as analysts point to incentives, recent rate cuts, tight supply and seasonal demand.
- The Coalition’s Andrew Bragg blames the expanded guarantee for October’s rise, and the Senate is still seeking Treasury’s underlying modelling documents first ordered in July.