New Property Price Caps for First Home Loan Deposit Scheme and Family Home Guarantee
The Australian Government has announced new property price caps for the First Home Loan Deposit Scheme and the Family Home Guarantee, which apply from 1 July 2021.
10,000 First Home Loan Deposit Scheme places will be available to eligible first home buyers for the 2021-22 financial year, while the New Home Guarantee has been extended with additional 10,000 places available from 1 July 2021 to 30 June 2022 for eligible first home buyers purchasing a new home. The New Home Guarantee will now have a construction commencement timeframe of 12 months.
In the 2021-2022 Federal Budget, the Family Home Guarantee was announced to support single parents with dependants. 10,000 Family Home Guarantees will be made available over four financial years from July 1, subject to the passage of legislation.
If you are unsure of the relevant price cap for the property you are looking to purchase, please contact a participating lender to confirm. NHFIC is currently updating our postcode search tool. Postcodes are assigned to a region, capital city or regional centre as defined by the Australian Statistical Geography Standard published by the Australian Bureau of Statistics.
View an overview of the property price caps.
View the New Home Guarantee fact sheet.
View the Family Home Guarantee fact sheet.