Launched in 2023 and expanded in October 2025, the program lets first home buyers use just a 5% deposit—or 2% for single parents—with government guarantees avoiding lenders mortgage insurance.
It has supported over 300,000 Australians by March 2026, including 45,000 key workers and 80,000 from regional areas.
Critics warn that falling prices, like potential 10% national drops, could trap 22,900 low-deposit buyers in negative equity, especially in Sydney and Melbourne where values have dipped.
