200,000 Australians enter home ownership through the Home Guarantee Scheme
Housing Australia has supported more than 200,000 eligible home buyers to make home ownership a reality since the inception of the Australian Government’s Home Guarantee Scheme (HGS or Scheme) in January 2020.
The HGS is an Australian Government initiative to support eligible home buyers, including first home buyers, single parents and regional participants to buy a home sooner. Established in January 2020, HGS currently comprises of the First Home Guarantee (FHBG), the Family Home Guarantee (FHG) and Regional First Home Buyer Guarantee (RFHBG)1. The Scheme is available for eligible home buyers through a panel of participating lenders and their authorised mortgage brokers.
The success of HGS is evident particularly for tens of thousands purchasing their first home, with over 193,000 individuals utilising the Scheme to secure their first homes. Housing Australia’s most recent Home Guarantee Scheme Trends and Insights Report found that 1 in 3 first home buyers took up the Scheme in 2023-2024.
The Scheme has empowered diverse groups to achieve home ownership, with more than 52% under the age of 30 and women representing more than half of all home buyers. Regional Australians are also actively participating, with over 67,000 eligible participants acquiring a home in regional areas of which nearly 30,000 accessed the RFHBG. The Scheme has supported almost 40,000 key workers, including nurses, teachers and social workers, purchase a home sooner across Australia.
The top three states participating in the Scheme for home buyers, or those building their home, consist of New South Wales, Victoria and Queensland.
Housing Australia CEO, Scott Langford said, “Together with our participating lenders and their accredited mortgage brokers, we celebrate this milestone which demonstrates the success of partnering to support eligible home buyers to purchase a home sooner. Right across Australia the scheme is enabling people to realise the dream of home ownership.”
Visit Housing Australia's website to learn more about the Home Guarantee Scheme.
1. The 200,000 individuals include those who participated in the New Home Guarantee, which is now longer available for new applicants since 1 July 2022.