300,000 Aussies Take up 5 Percent Deposit Scheme, but Is It Pouring Fuel on the Housing Crisis?

A government house deposit scheme has helped 300,000 people buy homes, including 48,000 non-citizens.
300,000 Aussies Take up 5 Percent Deposit Scheme, but Is It Pouring Fuel on the Housing Crisis?
A sold sign on a real estate board advertising residential property in Sydney, Australia, on Aug. 1, 2017. William West/AFP via Getty Images
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More than 300,000 Australians have now entered the property market via the Australian Government’s 5 Percent Deposit Scheme, but record participation is fuelling a heated debate over whether the program is helping first-home buyers or inadvertently driving up entry-level prices.

Data released this week by Housing Australia reveals that 48,000 permanent residents have utilised the scheme since eligibility was expanded in 2023.

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