Unlimited places, higher property price caps for first home buyers from 1 October 2025
Housing Australia welcomes the Australian Government’s expansion of the Home Guarantee Scheme (Scheme) with unlimited places and increased property price caps to help more Australians to buy their first home, sooner.
From 1 October 2025, the Scheme will remove limits to the number of Government guarantees available, giving all Australian first home buyers the chance to enter the market with a deposit of as little as 5% and avoid Lenders Mortgage Insurance.
The expanded Home Guarantee Scheme delivers on the Government’s election commitment to support all Australians into home ownership.
What’s changing from 1 October 2025?
- No place limits: all Australian first home buyers who have saved a 5% deposit can apply.
- No income caps: first home buyers with higher incomes can access the Scheme.
- Higher property price caps: to help home buyers where property prices have increased.
- Simpler access in regional areas: Regional First Home Buyer Guarantee will be replaced by the First Home Guarantee.
The Home Guarantee Scheme is available through over 30 Participating Lenders across Australia, including a wide range of customer-owned and regional banks, as well as major banks. Housing Australia will continue to work with lenders to increase access to the Scheme.
How do I apply for the Home Guarantee Scheme after 1 October 2025?
- Check your eligibility with the Home Guarantee Scheme Eligibility Tool here.
- Check the new property price caps for your area (see table below).
- Contact a Participating Lender and apply.
- Lenders will submit eligible applications to Housing Australia and process pre-approval.
- Find a place to call home!
Property price caps from 1 October 2025
| Location | Current Property Price Cap | Property Price Cap effective 1 October 2025 |
| NSW – capital city and regional centre | $900,000 | $1,500,000 |
| NSW – other | $750,000 | $800,000 |
| VIC – capital city and regional centre | $800,000 | $950,000 |
| VIC – other | $650,000 | $650,000 |
| QLD – capital city and regional centre | $700,000 | $1,000,000 |
| QLD – other | $550,000 | $700,000 |
| WA – capital city | $600,000 | $850,000 |
| WA – other | $450,000 | $600,000 |
| SA – capital city | $600,000 | $900,000 |
| SA – other | $450,000 | $500,000 |
| TAS – capital city | $600,000 | $700,000 |
| TAS – other | $450,000 | $550,000 |
| ACT | $750,000 | $1,000,000 |
| NT | $600,000 | $600,000 |
| Jervis Bay Territory and Norfolk Island | $550,000 | $550,000 |
| Christmas Island and Cocos (Keeling) Islands | $400,000 | $400,000 |
* Regional centres are (1) in New South Wales - Illawarra, Newcastle and Lake Macquarie, (2) in Victoria - Geelong, and (3) in Queensland - Gold Coast and Sunshine Coast.
To find out more about the Scheme, visit the Housing Australia website here.
The Housing Australia Investment Mandate Amendment to effect these changes can be found here.
Note: These changes are not effective until 1 October 2025. The Home Guarantee Scheme is still available for borrowers to access today with the current eligibility criteria and price caps.
To read the Australian Government announcement, click here.