It has been a year since the Albanese government introduced its 5% deposit scheme for first home buyers, which lets them buy a home with only a 5% deposit, with taxpayers guaranteeing 15% of the purchase price and avoiding lenders’ mortgage insurance.
Housing Minister Clare O’Neil posted a message on social media celebrating that Labor’s 5% deposit scheme had “helped” 100,000 young Australians into the housing market:
“Housing in Australia is really tough”, O’Neil wrote.
