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$vuetify.icons.faPhone1300 650 620

New guarantee will support regional first home buyers: HIA

Media release

New guarantee will support regional first home buyers: HIA

Media release
“The release of the Regional First Home Buyer Guarantee this weekend will provide a new opportunity for first home buyers in regional Australia to achieve their dream of home ownership sooner,” said Kristin Brookfield, HIA Chief Executive Industry Policy.

“HIA has supported the First Home Guarantee program from its inception. The program continues to provide a pathway into home ownership for people who are struggling to overcome the deposit gap but could manage regular mortgage payments if they had the chance. 

“The release this weekend of 10,000 new places in the program focused on regional first home buyers are a welcome addition. 

"It is universally recognised that saving for a deposit is the largest obstacle to achieving home ownership. The First Home Guarantee program supports first home buyers to buy a home with as little as five percent deposit. 

“Since 2019 the First Home Guarantee scheme has helped tens of thousands of Australians get into their first home. 

“The new Guarantee supports eligible first home buyers living in regional areas to purchase a new or existing home in a regional area that they already call home.

“Regional Australia has endured so much in the last three years with a range of factors impacting people’s ability to save for their first home. This has been compounded by the general cost of living pressures that everyone in Australia is experiencing.

“HIA is pleased to see the federal government delivering on the commitment made earlier this year to expand the program with these 10,000 new places. 

“Buying your own home is the best form of financial and personal security a person can have,” concluded Ms Brookfield.

For more information please contact:

Joe Shanahan

Manager, Communications & Media

Kristin Brookfield

Deputy Managing Director
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