The Albanese government has delivered on our promise to provide more support for first home buyers.
📆 From today, every first home buyer will only need a 5% deposit. 💵
This will take years off the time it takes to save for a deposit, helping you into your own home sooner.
And you won’t have to pay a single dollar in mortgage insurance.
Too many people are working hard and trying to save but feel like the dream of home ownership has never been further out of reach.
Labor’s 5% deposits for all first home buyers is the next step in our plan to change this. We’re determined to bring the dream of homeownership back within reach.
We’re also delivering the country’s largest-ever housing build, because more housing means more affordable homes. This includes 100,000 new homes exclusively for first home buyers, with no competition from property investors.
For a decade, the Liberals didn’t invest in housing. That meant not enough homes got built and housing became more expensive.
Australia’s housing crisis can’t be fixed overnight, but we’re tackling it on all fronts – and we’re making real progress.
You can find out more about the 5% deposit scheme by clicking the link below.
