In this episode of Property Now, Michael Carbone and Chris Ferris unpack the Albanese government’s expanded First Home Buyer Guarantee Scheme, where you can now buy with 5% deposit and no LMI - even if you earn over $1M a year. They break down:
What’s changed and why it’s a huge deal for buyers.
How the policy could add fuel to the fire of Australia’s housing crisis.
The real pros, cons, and traps first-home buyers need to know.
Why this move could make the government more invested than ever in keeping property prices high.
If you’re thinking about buying your first home or investing in 2025, this is one episode you can’t afford to miss.
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00:00:00 - Introduction
00:00:29 - First Home Buyer Guarantee Scheme
00:00:48 - Changes in the Scheme
00:01:13 - Implications of the Changes
00:04:56 - Pros of the Scheme
00:07:17 - Cons of the Scheme
00:15:04 - Continuing Impact of the Scheme
00:15:14 - The Domino Effect on Property Prices
00:16:07 - Increased Demand and Supply Issues
00:17:16 - Government's Role and Challenges
00:19:34 - Government's Short-Term Solutions and Long-Term Effects
00:20:07 - Personal Opinions on the Scheme
00:21:21 - Final Thoughts and Advice
00:22:48 - Closing Remarks