More than 200,000 Australians have been able to buy a home of their own with a smaller deposit thanks to the Federal Labor Government’s expanded Home Guarantee Scheme. This includes more than 1,843 people on the Central Coast and 56,349 across NSW.

While people are still under the pump with housing pressures, Labor is building Australia’s future, and that means helping Australians build their future with a home of their own.  

Under the Home Guarantee Scheme, a portion of an eligible home buyer’s home loan is guaranteed by Housing Australia, enabling them to buy a home with as little as a 5% deposit while avoiding Lenders Mortgage Insurance, which in some cases can be tens of thousands of dollars.  

The latest Home Guarantee Scheme Trends and Insights Report found that 1 in 3 first home buyers took up the Scheme in 2023-2024 and that it has helped a range of participants get into a home sooner: 

• more than 50 percent of eligible buyers are women  

• more than 50 percent of eligible buyers are under the age of 30 

• 67,000 eligible participants have acquired homes in regional areas  

• 40,000 eligible participants are key workers, including nurses, teachers and social workers 

Of the 200,000 Australians supported through the Home Guarantee Scheme, more than 140,000 Australians have been helped since the Albanese Government was elected – more than twice the number that were supported by the former Coalition Government.  

This comes on top of Labor embarking on the biggest home building program in Australia’s history, working with the states and territories to improve rental security and ending no-fault evictions.  

We can keep building Australia's future by getting more Australians into a home of their own and building more homes across the board or we can go backwards under Peter Dutton, with billions of dollars of cuts to investment in housing.  

Quotes attributable to Federal Member for Robertson, Dr Gordon Reid MP:  

“Labor is building Australia’s future, and I want to help my local community build their futures with a home of their own – that’s why I’m so excited about the success of this scheme.  

“Not enough people know about this scheme, and for eligible participants, it makes the 20% deposit a thing of the past. You can get into your own place with a deposit as low as 5%, you can team up and can buy with siblings and friends too so head to the Housing Australia website to see what’s available”  

ENDS