Reach out to our friendly team at Atlas Broker who will be able to guide you in the right direction.
From January 2026 there are going to be some huge changes to the First Home Buyer Guarantee Scheme which will help those looking to purchase their first homes immensely!
The government are raising the price caps for properties eligible under the scheme to ensure it benefits a broader range of first home buyers, especially in areas like Sydney and Melbourne where the average home is much higher.
The scheme will NO longer have income caps for individuals or couples and will additionally have UNLIMITED spots available.
The 5% deposit will remain the same to further help first home buyers secure their first property.
This will not only speed up the process of saving the required house deposit but it will also save you thousands of dollars in Lenders Mortgage Insurance.
Check out the new price caps for each state below:
| Capital city | House price limit for scheme |
|---|---|
| Sydney | $1,500,000 |
| Melbourne | $950,000 |
| Brisbane | $1,000,000 |
| Perth | $850,000 |
| Adelaide | $900,000 |
| Hobart | $700,000 |
| Canberra | $1,000,000 |
| Darwin | $600,000 |
Melbournians will be able to purchase their first home at $950,000 with a deposit of $47,500 while Queenslanders can purchase for $1,000,000 with a deposit of $50,000!
With so many people struggling to get their foot through the door in the housing game these upgrades will help dozens and dozens of individuals, couples and families secure their first home!
Reach out to our friendly team at Atlas Broker who will be able to guide you in the right direction.
