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The National Housing Finance and Investment Corporation has unveiled the new property price caps for the First Home Loan Deposit Scheme and the Family Home Guarantee.
The new price caps will also be available to applicants under the New Home Guarantee, which now has a construction commencement timeframe of 12 months.
There are 10,000 places that will be available for the FHLDS for the 2021-2022 while the New Home Guarantee has been extended with additional 10,000 places available from 1 July 2021 to 30 June 2022.
Adrian Kelly, president of Real Estate Institute of Australia, said the First Home Loan Deposit Scheme and the New Home Guarantee, will be able to support up to 30,000 first-home buyers.
“Saving a deposit is the hardest part of getting into homeownership, so the government support will help ease that issue,” he said. “We urge eligible applicants to contact a participating bank or mortgage provider and get their applications underway.”
The new price caps are stated in the table below:
