Government has lifted price caps to help first home buyers

The new First Home Guarantee rules are live — and they’ve completely changed the game for first home buyers.

On the 1st October 2025, the Government’s expanded First Home Guarantee officially kicked in, removing income limits and lifting purchase price caps across Australia.

That means any first home buyer can now apply, regardless of how much they earn — and they can buy properties worth up to $1.5 million in Sydney, $950,000 in Melbourne, and higher amounts across other capital cities and regional areas.

Plus, with no annual cap on the number of places available, eligible buyers can secure their home with as little as a 5% deposit — without paying Lenders Mortgage Insurance.

These changes are already helping more Australians enter the property market, opening doors that were previously out of reach and creating real opportunities to buy sooner rather than later.

If you’ve been sitting on the sidelines, now is the time to act. Let’s explore how far your deposit can go under the new rules and what options are available to you.

📩antony@rateone.com.au

📞 0468 421 972

https://antonyallan.com