Invest
1,000 FHBs take advantage of scheme
Australia’s largest bank has announced that 1,000 first home buyers have now finalised the purchase of their home under the government’s first home buyer loan scheme, with plans to support a further 2,400 secure finances.
1,000 FHBs take advantage of scheme
Australia’s largest bank has announced that 1,000 first home buyers have now finalised the purchase of their home under the government’s first home buyer loan scheme, with plans to support a further 2,400 secure finances.
The First Home Loan Deposit Scheme (FHLDS) was introduced to help Australians get into a home sooner by providing secured loans for first time buyers with a deposit of just 5 per cent.
CBA announced its 1,000th purchaser, a 32-year-old woman from Victoria, stating that securing a place under the FHLDS allowed her to purchase her new Pakenham home “much sooner” than she anticipated.
“I was saving for a deposit but was a few years off buying a property, so when my lender contacted me and explained that I would be able to purchase a home much sooner by participating in the scheme, I was ecstatic.”
Additionally, the major bank announced that it has assisted a further 2,400 buyers secure their place under the scheme, bringing the total number of first home buyers to be financed by CBA under the FHLDS to 3,400.
The FHLDS aims to provide up to 10,000 first home buyers per year with access to housing finance, with a deposit as low as 5 per cent.
Under the scheme, the government has agreed to guarantee the difference between the borrower’s deposit and the 20 per cent deposit required to take out a home loan without paying lender’s mortgage insurance.
From 1 January 2020, the two majors were permitted to secure a combined 3,000 places under the scheme, with initial data suggesting that all 3,000 places were filled within the first three weeks of launch.
From 1 February 2020, the majors were allocated a further 2,000 places, and the 25 non-major participating lenders opened up applications for the remaining 5,000 places.
The second major participating lender, NAB, confirmed that all 5,000 allocated major bank-funded loans were reserved “within hours” of the second-round release of places.
Another 10,000 places under the scheme will be released on 1 July 2020, with details on allocation yet to be released.
RELATED ARTICLES
About the author
About the author
Property
Gen Z's secret weapon: Why their homebuying spree could flip Australia's housing market
A surprising share of younger Australians are preparing to buy despite affordability headwinds. One in three Gen Z Australians intend to purchase within a few years and 32 per cent say escaping rent ...Read more
Property
Tasmania’s pet-positive pivot: What landlords, BTR operators and insurers need to do now
Tasmania will soon require landlords to allow pets unless they can prove a valid reason to refuse. This is more than a tenancy tweak; it is a structural signal that the balance of power in rental ...Read more
Property
NSW underquoting crackdown: the compliance reset creating both cost and competitive edge
NSW is moving to sharply increase penalties for misleading price guides, including fines linked to agent commissions and maximum penalties up to $110,000. Behind the headlines sits a more ...Read more
Property
ANZ’s mortgage growth, profit slump: why volume without margin won’t pay the dividends
ANZ lifted home-lending volumes, yet profits fell under the weight of regulatory and restructuring costs—an object lesson in the futility of growth that doesn’t convert to margin and productivityRead more
Property
Rate pause, busy summer: where smart capital wins in Australia’s property market
With the Reserve Bank holding rates steady, the summer selling season arrives with rare predictability. Liquidity will lift, serviceability stops getting worse, and sentiment stabilises. The ...Read more
Property
The 2026 Suburb Thesis: A case study in turning trend lists into investable strategy
A new crop of ‘suburbs to watch’ is hitting headlines, but translating shortlist hype into bottom-line results requires more than a map and a mood. This case study shows how a disciplined, data-led ...Read more
Property
From signals to settlements: A case study in turning property insight into investable action
Investor confidence is rebuilding, first-home buyers are edging back, and governments are pushing supply — yet most property players still struggle to convert signals into decisive movesRead more
Property
Australia’s rental choke point: why record-low vacancies are now a boardroom issue
A tightening rental market is no longer just a housing story—it’s a macro risk, a labour challenge and a strategic opening for capital. With vacancies near historic lows and rents still rising, ...Read more
Property
Gen Z's secret weapon: Why their homebuying spree could flip Australia's housing market
A surprising share of younger Australians are preparing to buy despite affordability headwinds. One in three Gen Z Australians intend to purchase within a few years and 32 per cent say escaping rent ...Read more
Property
Tasmania’s pet-positive pivot: What landlords, BTR operators and insurers need to do now
Tasmania will soon require landlords to allow pets unless they can prove a valid reason to refuse. This is more than a tenancy tweak; it is a structural signal that the balance of power in rental ...Read more
Property
NSW underquoting crackdown: the compliance reset creating both cost and competitive edge
NSW is moving to sharply increase penalties for misleading price guides, including fines linked to agent commissions and maximum penalties up to $110,000. Behind the headlines sits a more ...Read more
Property
ANZ’s mortgage growth, profit slump: why volume without margin won’t pay the dividends
ANZ lifted home-lending volumes, yet profits fell under the weight of regulatory and restructuring costs—an object lesson in the futility of growth that doesn’t convert to margin and productivityRead more
Property
Rate pause, busy summer: where smart capital wins in Australia’s property market
With the Reserve Bank holding rates steady, the summer selling season arrives with rare predictability. Liquidity will lift, serviceability stops getting worse, and sentiment stabilises. The ...Read more
Property
The 2026 Suburb Thesis: A case study in turning trend lists into investable strategy
A new crop of ‘suburbs to watch’ is hitting headlines, but translating shortlist hype into bottom-line results requires more than a map and a mood. This case study shows how a disciplined, data-led ...Read more
Property
From signals to settlements: A case study in turning property insight into investable action
Investor confidence is rebuilding, first-home buyers are edging back, and governments are pushing supply — yet most property players still struggle to convert signals into decisive movesRead more
Property
Australia’s rental choke point: why record-low vacancies are now a boardroom issue
A tightening rental market is no longer just a housing story—it’s a macro risk, a labour challenge and a strategic opening for capital. With vacancies near historic lows and rents still rising, ...Read more
