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When the Albanese government introduced its expanded 5% deposit scheme for first home buyers in October last year, the number of individuals and properties eligible for the scheme rose dramatically.
The price caps for homes to be eligible for the scheme rose by as much as $600,000 compared with where they had been on September 30th, with almost every region and capital city seeing an outsized increase in the price a first home buyer could pay for a home and still be eligible.
The scheme also did away with caps on the incomes of applicants, with all first home buyers now allowed to take part, not just singles who earned under $125,000 and couples who earned under $200,000.
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About the author
Tarric is an Australian freelance journalist and independent analyst who covers economics, finance, and geopolitics. Tarric is the author of the Avid Commentator Report. His works have appeared in The Washington DC Examiner, The Spectator, The Sydney Morning Herald, News.com.au, among other places.
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