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“This will make homeownership more accessible to those who may have previously been locked out of the market and something HIA successfully advocated for in lead up to this year’s election.
“Since its inception, HIA has been strongly supportive of the Home Guarantee Scheme. To date the scheme has helped more than 210,000 Australians get into a home of their own.
“Previously the scheme has been capped at 50,000 new places each year, but today’s announcement will mean there are no caps or income limits and property prices have been adjusted in line with average house prices in both metropolitan and regional areas.
“This will mean more Australians can access the scheme and get into housing sooner.
“Under the First Home Guarantee, an eligible first home buyer can purchase a property with a deposit of as little as five per cent.
“The Guarantee offers 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.
”Recent analysis of the Scheme shows that more than one third of all guarantees were issued to buyers in regional areas. It also showed an increasing proportion of younger buyers participated in the Scheme each year since its inception highlighting its importance to a broad range of Australians.
“HIA has always maintained that owning your own home is the best form of financial and personal security a person can have. The expanded Home Guarantee Scheme goes a long way to helping that dream become a reality,” concluded Ms Martin.
“The median price of residential land sold nationally jumped by 6.8 per cent over the 2024/25 financial year, more than three times faster than consumer price inflation over the same period,” stated HIA Chief Economist Tim Reardon.
“The Housing Industry Association (HIA) is calling on all parties to park the games and fast track the delivery of the long overdue EPBC reforms by the end of this year,“ HIA Managing Director, Jocelyn Martin said today.
The Housing Industry Association (HIA) welcomes the announcement of an audit into the Housing Australia Future Fund (HAFF) but cautioned that the review should not delay or derail the urgent task of increasing Australia’s housing supply, HIA Managing Director Jocelyn Martin said today.
“The announcement that the NSW Government will fast-track a major rezoning of Gosford City Centre, unlocking 1,900 new homes across 283 hectares, provides an exciting opportunity for the Central Coast,” commented HIA Hunter Executive Director, Craig Jennion.