The Morrison Government is extending its highly successful Home Guarantee Scheme to help get Far
North Queenslanders into their own home sooner.
Over the past year the Morrison Government has helped thousands of Far North Queenslanders purchase their first home.
That’s why the Morrison Government is more than doubling the Home Guarantee Scheme to 50,000 places per year.
Federal Leichhardt MP Warren Entsch said the Morrison Government’s highly successful home-ownership policies are delivering real outcomes.
“The Morrison Government is absolutely committed to helping more people in Cairns and Far North Queensland achieve the security and dignity that home ownership provides,” Mr Entsch said.
“I personally know of several people who are now living in their own home thanks to the Morrison Government home-ownership policies and incentives
“Under the expanded Home Guarantee Scheme the government will make available 35,000 guarantees each year, up from the current 10,000, from July 1, 2022.
“This will support eligible first homebuyers to purchase a new or existing home with a deposit as low as five per cent.”
Mr Entsch said a new Regional Home Guarantee was also announced in the federal budget.
He said 10,000 guarantees would be made available under the new scheme each year from October 1, 2022 to June 30, 2025.
“Under the new Regional Home Guarantee eligible homebuyers, including non-first home buyers and permanent residents, will be to purchase or construct a new home in regional areas,” he said.
Mr Entsch said an expansion of the Family Home Guarantee was also announced in the budget.
He said 5000 guarantees would be made under the scheme each year from July 1, 2022 to June 30, 2025.
“This scheme supports eligible single parents with children to buy their first home or to re-enter the housing market with a deposit of as little as two per cent,” he said.