Home Guarantee Scheme helps over 150,000 Australians achieve home ownership

More than 150,000 Australians have bought or built their own home over the past four years with support from the Home Guarantee Scheme (HGS), an Australian Government initiative administered by Housing Australia.

The HGS, which comprises the First Home Guarantee (FHBG), the Family Home Guarantee (FHG), and the Regional First Home Buyer Guarantee (RFHBG), aims to support eligible home buyers, including first home buyers, single parents, and regional Australians, to buy a home sooner.

Since its inception in January 2020, the Scheme has seen strong demand across the country, supporting a wide range of Australians, including over 27,000 key workers, around 51,900 people living in regional Australia, and a majority of women and people under the age of 30.

“This is a significant milestone for Housing Australia and the Home Guarantee Scheme,” said Housing Australia CEO Nathan Dal Bon.
“Housing Australia has a passionate team dedicated to delivering this Program with our participating lenders, and together they have successfully implemented multiple Scheme changes and expansions over the past four years.”

In the 12 months to March 2024, more than 1 in 3 first home buyers were supported by the Scheme, compared with 1 in 10 in the Scheme’s first full year of operation in FY2020-21.

“We are honoured to have had the opportunity to help 150,000 Australians into homes,” said Housing Australia Chief Program Officer HGS Jennifer Chew.
“Back in 2020, the 1st participant in the Scheme was a teacher who bought their first home in regional NSW. Since then, the Scheme has helped many more Australians to buy a home sooner, including the 150,0000th participant, a single mother in Victoria who works in nursing.”

The HGS is available through 33 Participating Lenders, and Housing Australia looks forward to continuing to work with these lenders and their broker networks to help many more Australians achieve home ownership.