From 1 July 2023 the Home Guarantee Scheme extended to friends, siblings and other family members applying jointly, to people who have not owned property in Australia for ten years, and to permanent residents. UDIA president Maxwell Shifman welcomed the change but said it works best alongside supply-boosting measures.
As I told the Australian Property Journal: “These enhancements help remove barriers to accessing housing for many Australians otherwise priced out, but they will work best when coordinated with supply boosting measures to keep downward pressure on prices,”
I also said: “Expanding the eligibility criteria of the First Home Guarantee, the Regional First Home Buyer Guarantee, and the Family Home Guarantee, will help more Australians obtain a home of their own, and supply boosting measures will help ensure those homes are affordable,”
Australian Property Journal, 1 May 2023 — Read the full article