30/09/2025
Big news for first home buyers! 🏠 Changes to government schemes start tomorrow, October 1, and they could make your dream of owning a home a reality sooner than you think.
The key change is the expansion of the federal Home Guarantee Scheme (HGS). This is a game-changer!
Here’s what's changing: ✅ Unlimited Places: No more waiting in line! All eligible buyers can now access the scheme. ✅ No Income Caps: The previous income limits have been removed, opening the door for more Australians. ✅ Higher Price Caps: The property price caps have increased to reflect the current market. In Sydney and regional NSW, the cap has risen from $900,000 to a massive $1.5 million!
What about stamp duty? The NSW First Home Buyer Assistance Scheme (FHBAS) for stamp duty remains unchanged. You can still combine it with the federal HGS! ➡️ Full Stamp Duty Exemption: For homes up to $800,000. ➡️ Concessional Rate: For homes between $800,000 and $1 million.
This means you could potentially use the HGS to buy with a low deposit (and no LMI) AND use the FHBAS to pay no stamp duty.
Want to know how these changes could benefit you? Get in touch today! We're here to help you navigate your path to homeownership.