Episode Details

Australias Home Guarantee Scheme, launched in October 2021, is driving up entry-level housing prices, according to new research from Cotality. Properties under the scheme saw a 6.7% increase in the first six months, compared to a 3.6% rise for pricier homes. The scheme, which allows first home buyers to purchase with just a 5% deposit, has boosted ownership but hurt affordability long-term. The government defends the scheme, citing supply issues and entry-level prices already outpacing the rest. However, broader property confidence is declining, with rate hikes and investors snapping up properties adding to the pressure on the low end. Despite some easing in Sydney and Melbourne, growth remains in most other areas, making it tougher for first-timers to break into the market.

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