A Federal Government scheme to allow first home buyers to purchase a property with a deposit as little as 5 per cent will operate on a "first-in, best-dressed" basis.
Key points:
- The Federal Government will offer loan guarantees for eligible buyers on low and middle incomes
- The scheme is aimed at helping up to 10,000 first home buyers enter the market each year
- The Government announced the scheme ahead of the Federal Election in May
- The Qld price cap is $475,000
- Starts Jan 2020