The National Housing Finance and Investment Corporation (NHFIC) today released its third annual First Home Loan Deposit Scheme (FHLDS) Trends & Insights Report, covering data on the FHLDS, New Home Guarantee (NHG) and Family Home Guarantee (FHG) for 2021–22.
The FHLDS, NHG and FHG are Australian Government initiatives to support eligible home buyers purchase a home sooner. Collectively these initiatives are referred to as the First Home Loan Deposit Scheme (Scheme). On 1 July 2022 these initiatives were brought under the new Home Guarantee Scheme (HGS).
The Government has significantly increased the capacity of the Scheme with a total of 50,000 places available in the First Home Guarantee (FHBG), FHG and the new Regional First Home Buyer Guarantee (RFHBG). Trends and insights on the new and expanded Scheme will be included in future years’ releases.
Key insights from the report include:
The report demonstrates another year of strong demand for the Home Guarantee Scheme, with the Government’s significant expansion of the Scheme enabling more Australians to buy their own home sooner across the cities and regions.
NHFIC CEO Nathan Dal Bon
The proportion of first home buyers supported has increased from 1 in 10 to 1 in 7, demonstrating the maturity of the Scheme in supporting first home buyers overcome the deposit hurdle to enter the housing market. An interesting aspect of the report is that nearly half of all first home buyers typically purchased properties that were more than 25 years old, suggesting these types of properties provide a good entry point into the market for first home buyers.
NHFIC Head of Research Hugh Hartigan
For more information, please view the report at FHLDS Trends & Insights Report 2021-22 - NHFIC