This research report by NHFIC - First Home Loan Deposit Scheme - Trends and Insights – provides a detailed snapshot of the First Home Loan Deposit Scheme (FHLDS) for the first six months of its operation, from 1 January 2020 to 30 June 2020.
As at 30 June 2020, 10,000 Scheme places had been allocated. Of these, 6,814 participants had either signed a contract or settled on their home, while the remaining 3,186 were at the loan pre-approval stage and still looking for a property.
The Scheme has experienced strong demand and supported a broad cross-section of Australians purchasing their first home. This includes people of all ages across metro and regional areas around Australia, and those who have moderate taxable incomes. The Scheme is also supporting key workers, such as teachers and nurses, to access the housing market sooner.
The Scheme has helped homeowners purchase their first property, acting as a support mechanism for the first home buyer market. It has assisted first home buyers across the income, age and demographic spectrum.
The Scheme has broad geographical reach across all states and territories, with regional Australia well represented.
Buyers supported by the Scheme preferred detached houses over apartments or townhouses.
Buyers were prepared to move some distance away from their existing residence to buy their first home, with purchases concentrated in outer city areas.
Demand for the Scheme was strong, with early take-up of available Scheme places.
The Scheme has supported many key workers buying their first home.
The Scheme has supported first home buyers and allowed them to bring forward their home purchase.
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