Albanese Labor Government delivers 5% deposits for all first home buyers from today.

The Hon Clare O’Neill

Minister for Housing and Homelessness

Minister for Cities

Member for Hotham

Carol Berry MP

Member for Whitlam

Wednesday 1st October 2025

JOINT MEDIA RELEASE

The Albanese Labor Government is making home ownership more achievable for everyday Australians, today launching 5 percent deposits for all first home buyers.

Through the expanded 5 per cent deposit scheme, the Albanese Government will guarantee a portion of a first home buyer’s loan, so they can purchase with a lower deposit and not pay Lenders Mortgage Insurance.

In the Whitlam electorate, more than 1300 locals have already been able to buy their first homes thanks to Labor’s expanded 5 per cent deposits scheme.

Under today’s changes, all first home buyers in Whitlam will have access to 5 per cent deposits, with no caps on places or income limits. Property price caps will also be set higher in line with average house prices, providing access to a greater variety of homes.

From today, property price caps in regional areas of Whitlam, such as Shellharbour, will increase from $900,000 to $1,500,000. In rural parts of the electorate, including Mittagong, the cap will rise from $750,000 to $800,000. These changes mean first home buyers will have access to a wider range of properties, making it easier to find a home that suits their needs.

For a first home buyer in Whitlam looking to purchase a $800,000 home, Labor’s 5 per cent deposits will save them $120,000.

To find out more, visit www.housingaustralia.gov.au/home-guarantee-scheme.

Quotes attributable to Minister for Housing and Homelessness Clare O’Neil:

"5 per cent deposits for all first home buyers will mean more people can get into their own home sooner.”

“The Albanese Labor Government is stepping up to level the playing field and back a new generation of first home buyers into the housing market.”

Quotes attributable to Member for Whitlam, Carol Berry MP

“The Albanese Labor Government will help more people turn their home ownership dream into a reality.”

"More than 1,300 people in the Whitlam electorate have already bought their first homes with the support of this program.”

“With today’s changes, even more locals in the Southern Illawarra and Southern Highlands will be able to take that first step into home ownership."

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MEDIA CONTACT:

GEORGIA ROFF - 0428 160 565 or Georgia.roff@aph.gov.au