The scheme, previously known as First Home Guarantee, has been expanded on earlier than initially planned, launched on 1 October 2025 instead of January 2026. Here’s what’s new:

  1. No more place limits
    Previously capped at around 50,000 spots per year, the scheme will now have unlimited places, so any eligible first home buyer with a 5% deposit can apply.
  2. No income caps
    Income thresholds (previously $125,000 for individuals and $200,000 for couples) have been removed completely—high-income earners can now also qualify.
  3. Significantly higher property price caps
    The maximum property values eligible under the scheme are rising across all states to better reflect market conditions. Highlights include:
    WA (Perth metro): from $600,000 → $850,000
    Other states also see major increases (e.g., Sydney to $1.5M; Brisbane to $1M)