One in eight FHB homes bought with First Home Loan Deposit scheme

New data shows the Morrison Government’s successful First Home Loan Deposit Scheme has helped get Australians into a home of their own up to four years earlier than they had planned.

The National Housing Finance and Investment Corporation (NHFIC) Trend and Insight Report, shows the Scheme had an outstanding first year.

The Report also found the Scheme supported one in eight of all first home buyers who purchased a home in Australia between March and June 2020.

Australia’s essential workers secured one in six of the Scheme’s guarantees and around three quarters of guaranteed loans were taken up by Australians aged between 18 and 34 years of age.

Guaranteed loans were secured in all parts of the nation with major cities attracting 62.3 per cent of buyers under the Scheme, while 37.7 per cent purchased in regional areas.

The largest amount of applications for guaranteed loans, 46.1 per cent, were made through mortgage brokers.

Almost 70 per cent of buyers using the Scheme purchased a detached house, with 25 per cent buying an apartment and five per cent purchasing a townhouse.