First home buyers storm ScoMo’s deposit subsidy scheme

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More data has been released on the Morrison Government’s first home buyer (FHB) deposit subsidy scheme, which reveals that two-thirds of the allocated 10,000 slots have already been taken up, with more than half the applicants aged under 30:

Just a month-and-a-half into the program, the figures showed about 6,500 loans were being processed. Some of those have been approved for financing for a loan while others were at a much earlier stage.

That has left another 3,500 places in the scheme this financial year. Another 10,000 spots will become available from July.

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.