Thousands of Aussies eligible for ‘major’ home buyers scheme

The program – which was introduced at the end of 2019 – has already seen 60,000 people secure homes as housing prices across the country continue to soar.

Stream more property news live & on demand with Flash, Australia's biggest news streaming service. New to Flash? Try 1 month free now “It enables people to purchase a new home with a deposit of 5 per cent because banks are increasingly requiring people to a 20 per cent deposit,” Mr Sukkar told Sky News Australia.

The First Home Buyers Scheme was a key pillar of the Coalition’s 2019 election campaign and aims to alleviate the pressure associated with securing a mortgage. Labor has claimed the government’s policy was a “carbon copy” of the opposition’s Regional First Home Buyer Support Scheme. However, Mr Sukkar hit back at Labor’s claims and said the opposition was just trying to position itself closer to the government on key policies.

A home on a 5% deposit, what can go wrong 🤦‍♂️ Let’s see what happens when rates hit 5% +

This isn't helpful to reduction of housing costs & will only increase inflation in this sector. The issue will need to be tackled where residential housing stops being a commodity or an 'investment' & there are limits applied. Changes to NG & CGT are also needed.

This will only push up house prices! Again, another vote grabbing exercise from Australia's most grubbiest government.

Great more competition in the housing market over night... and that won't push prices even higher... bwhahaha

The 2nd most expensive house prices and dept per household in the world.What could go wrong!

No they won’t.

Empty promises.

It is because if the LNP that Australians cannot afford to buy a new home. Now they offer a small pittance on the eve of an election?

On an aside, what the hell is that thing on Tyrone's top lip? Jesus, either grow a beard like a real man, or shave. There's no in between!

Quick! Now that housing is more expensive than ever before, and interest rates can only increase, get in on the ground floor for a debt your grandkids will be paying off! Brought to you by the Liberal government!

That should cool house prices off 🙄

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