Home Guarantee Scheme chalks up 100,000 buyers
In the three years since its inception, the federal government’s Home Guarantee Scheme (HGS) has assisted 100,000 Australians into home ownership.
Following strong demand for the scheme, first enacted to support eligible home buyers, including first home buyers, single parents, and regional Australians, into home ownership, since its inception, the HGS recently facilitated its 100,000th purchase.
According to data provided by the National Housing Finance and Investment Corporation (NHFIC), which administers the program, around 34,000 regional Australians have been supported into home ownership in the past three years, while one in five of those benefiting from the scheme’s implementation were key workers — including 6,700 teachers, 5,000 nurses, and approximately 3,500 social workers.
NHFIC chief executive officer Nathan Dal Bon called the achievement a “wonderful milestone”.
The scheme is set for expansion from 1 July this year, with friends, siblings, and other families set to become eligible joint applicants under both the First Home Guarantee scheme and Regional First Home Buyer scheme.
In announcing the changes, federal Minister for Housing Julie Collins stated: “These are sensible changes that will help ensure more families have a safe and secure place to call home.”
In total, the program offers 35,000 places across the First Home Guarantee scheme, 10,000 places per year to 30 June 2025 under the Regional First Home Buyer Guarantee, and 5,000 places per year to 30 June 2025 under the Family Home Guarantee.
Mr Dal Bon said the NHFIC, a government organisation, aspires to “support Australians across the housing spectrum from those renting in community housing, through to Australians with the goal of home ownership”.
“We look forward to helping more Australians over the coming years into homes sooner under the scheme,” he added.
NHFIC chief program officer Jennifer Chew thanked the scheme’s 32 participating lenders, adding the organisation is “proud to have helped 100,000 Australians in homes”.
“NHFIC has an authorised panel of 32 participating lenders that offer the Home Guarantee Scheme to home buyers. We look forward to continuing to work with our lenders and their broker networks to help more Australians into homes,” she added.
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