subscribe to our newsletter

Home-buying grants surpass 50k buyers

More than 50,000 people have signed up for the government’s home-ownership schemes for first home buyers and single parents, since they commenced last year.

The Home Guarantee Scheme, which comprises the Family Home Guarantee, the First Home Loan Deposit Scheme and the New Home Guarantee, has seen 52,888 Australians either purchase a home or reserve a place in one of the programs since 1 January last year.

A further 10,000 additional places were made available across each of the three schemes from July, with 12,251 of those since being taken.

The Family Home Guarantee, which commenced from July, has allowed single parents to purchase a home with a deposit as small as 2 per cent.

It saw 1,246 people take places in the first three months.


Assistant Treasurer and Minister for Housing Michael Sukkar reported 84 per cent of the family guarantee users were single mums.

“The government’s Home Guarantee Scheme helps overcome the challenges of saving for a deposit and has played a huge part in opening up the housing market to even more Australians,” Mr Sukkar said.

Meanwhile, the First Home Loan Deposit Scheme, which kicked off in January last year and the New Home Guarantee, which started in October 2020, are designed to support first home buyers to purchase a home with a deposit of as little as 5 per cent.

New government data has indicated intended purchase locations, showing the number of guarantees secured in each state and territory since 1 July:


Applicants do not need to formally indicate their purchase location until settlement.

In July, CBA estimated that its customers had bought property on average five years earlier than they would have otherwise, using the government’s home-ownership schemes. 

The government also increased its property price caps across the First Home Loan Deposit Scheme and Family Home Guarantee in June, after it faced criticisms for its previous price limits. 

[Related: APRA makes moves on home loan buffers]

Home-buying grants surpass 50k buyers

Grow your business exponentially in 2022!

Discover the right strategies to build a more structured, efficient and profitable businesses at The Adviser’s 2022 Business Accelerator Program.

Visit the website here to secure your ticket.

Sarah Simpkins

Sarah Simpkins is the news editor across Mortgage Business and The Adviser.

Previously, she reported on banking, financial services and wealth management for InvestorDaily and ifa.

You can contact her on This email address is being protected from spambots. You need JavaScript enabled to view it..

Latest News

An industry poll has been launched to understand the key issues impacting mortgage and finance industry professionals leading up to the 2022...

The mutual bank has confirmed that it has reached a milestone figure of $10 billion in assets. ...

The financial complaints body has recruited a new leader for its compliance and monitoring team. ...

Join Australia's most informed brokers

Do you know which lenders are providing brokers and their customers with the best service?

Use this monthly data to make informed decisions about which lenders to use. Simply contribute to the survey and we'll send you the results directly to your inbox - completely free!

Do you think APRA's bank buffer changes will see more borrowers use non-banks?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.