{{ propApi.closeIcon }}
Our industry
Our industry $vuetify.icons.faArrowRight
Economic research & forecasting Economics Housing outlook Tailored market research Economic reports & data Inspiring Australia's building professionals Business & digital Products & innovation Projects HOUSING Online The only place to get your industry news Media releases Member alerts Submissions See all
Business support
Business support $vuetify.icons.faArrowRight
Become an apprentice host Hire an apprentice Why host a HIA apprentice? Apprentice partner program Builder & manufacturer program Industry insurance Construction legal expenses insurance Construction works insurance Home warranty insurance Tradies & tool insurance Planning & safety solutions Building & planning services How can safety solutions help you? Independent site inspections Solutions for your business Contracts Online HIA Tradepass HIA SafeScan Advertise jobs Trusted support & guidance Contracts & compliance support Professional services Industrial relations Member savings Toyota vehicles Fuel savings Handy pay See all
Resources & advice
Resources & advice $vuetify.icons.faArrowRight
Building it right Building codes Australian standards Getting it right on site See all Building materials & products Concrete, bricks & walls Getting products approved Use the right products for the job See all Managing your business Dealing with contracts Handling disputes Managing your employees See all Managing your safety Falls from heights Safety rules Working with silica See all Building your business Growing your business Maintaining your business See all Other subjects COVID-19 Getting approval to build Sustainable homes See all
Careers & learning
Careers & learning $vuetify.icons.faArrowRight
A rewarding career Become an apprentice Apprenticeships on offer Frequently asked questions Study with us Find a course to suit you Qualification courses Learning on demand A job in the industry Get your builder's licence Continuing Professional Development (CPD) Find jobs
HIA community
HIA community $vuetify.icons.faArrowRight
Join HIA Sign me up How do I become a member? What's in it for me? Mates rates Get involved Become an award judge Join a committee Partner with us Our initiatives HIA Building Women GreenSmart Kitchen, bathroom and design hub Get to know us Our members Our people Our partners Support for you Charitable Foundation Mental health program
Awards & events
Awards & events $vuetify.icons.faArrowRight
Awards Awards program People & Business Awards GreenSmart Australian Housing Awards Awards winners Regional Award winners Australian Housing Award winners 2023 Australian Home of the Year Enter online Industry events Events in the next month Economic outlook National Conference Events calendar
HIA products
HIA products $vuetify.icons.faArrowRight
Shop @ HIA Digital Australian Standards Contracts Online Shipping & delivery Purchasing T&Cs See all Products Purchase NCC 2022 Building codes & standards Economic reports Hard copy contracts Guides & manuals
About Contact Newsroom
$vuetify.icons.faTimes
$vuetify.icons.faMapMarker Set my location Use the field below to update your location
Address
Change location
{{propApi.title}}
{{propApi.text}} {{region}} Change location
{{propApi.title}}
{{propApi.successMessage}} {{region}} Change location

$vuetify.icons.faPhone1300 650 620

Expansion of home guarantee scheme builds hope for first homebuyers

Media release

Expansion of home guarantee scheme builds hope for first homebuyers

Media release
“The release today of 40,000 new places under the Federal Government’s Home Guarantee Scheme is great news for all aspirational home buyers in Australia,” said Kristin Brookfield, HIA Chief Executive, Industry Policy.

The Home Guarantee Scheme comprises the First Home Guarantee, previously known as the First Home Loan Deposit Scheme, and the Family Home Guarantee. The number of places available through the First Home Guarantee has been increased from 10,000 to 35,000 per financial year, while the Family Home Guarantee now has an annual allocation of 5,000 places from 1 July 2022 until 30 June 2025.

Under the First Home Guarantee, an eligible first homebuyer can purchase a property with a deposit of as little as five per cent, while through the Family Home Guarantee a single parent with dependents can purchase a home with a deposit of as little as two per cent.

“The guarantees offer help to those Australians looking to buy their first home, recognising that saving for a deposit is the largest obstacle to achieving home ownership.

“With the current cost pressures on households, a first home buyer is facing years to save a deposit and in that time they risk being priced out of the market.

“Since its inception, HIA has been strongly supportive the Home Guarantee Scheme and its’ administration by the National Housing Finance and Investment Corporation (NHFIC). To date the scheme has helped more than 61,000 Australians get into a home of their own.

“HIA has always maintained that owning your own home is the best form of financial and personal security a person can have.

“The allocation released today takes the scheme from its original pilot phase, to a well accepted part of the home buying landscape in Australia. Since its launch it has been clear that a real problem is being addressed and most importantly that thousands of Australia’s have been assisted to buy their first home.

“NHFIC anticipates making 50,000 new Scheme places available to eligible homebuyers in the year ahead, including 10,000 places in the new Regional First Home Buyer Support Scheme.

“HIA’s research earlier this year showed that 85 percent of renters in Australia aspire to own their own home, but only 49 percent believe the dream is an achievable one. 

“The Home Guarantee Scheme goes a long way to helping that dream become a reality and HIA looks forward to its continued success.”

Latest articles
View all news $vuetify.icons.faArrowRight
29 Feb
Craig Smythe awarded Life Membership

Last week Craig Smythe from of Adbuild Constructions received HIA Life Membership in recognition of his service to the residential construction industry over the last 35 plus years. He becomes only the third Hunter member to receive this prestigious award.

27 Feb
Blocking UTAS move a backward step in housing supply

“The long-discussed move of the University of Tasmania (UTAS) from the Sandy Bay campus presents a real opportunity to ease housing pressures in Greater Hobart,” said Stuart Collins, HIA Executive Director Tasmania.

27 Feb
Continuing Professional Development (CPD) on the way

The Victorian Government has announced it is proposing Regulations that will require building practitioners and plumbers to meet Continuing Professional Development (CPD) requirements. A Regulatory Impact Statement and proposed regulations has been released for public comment.

27 Feb
EIE: Changes to create low-and mid-rise housing - NSW

HIA commented on the Explanation of Intended Effect (EIE) which outlines proposed changes to encourage more low-rise and mid-rise housing (December 2023).