The 10,000 spots are for first home buyers living outside of capital city areas across states and territories, opening up opportunities in Townsville.
Ten thousand regional first home buyers will be able to buy property with as little as 5 per cent deposit off a special federal housing scheme that opens this weekend.
The Regional First Home Buyer Guarantee sees new 10,000 places open up on Saturday October 1 under the federal government’s Home Guarantee Scheme which is administered by the National Housing Finance and Investment Corporation.
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Nathan Dal Bon, chief executive of the Federal Government’s National Housing Finance and Investment Corporation (NHFIC). Picture: Britta Campion/The Australian
“To be eligible, home buyers (or at least one borrower when applying as a couple) must have lived in the regional area or adjacent regional area they are purchasing in, for the preceding 12-month period to the date they execute their home loan agreement.”
NHFIC CEO Nathan Dal Bon welcomed the “targeted support for first home buyers living in regional Australia”.
“Making it easier for more Australians to access housing is our fundamental purpose, and programs like this are even more important as aspiring homeowners cope with increasing cost of living pressures.”
The RFHBG means the total number of buyers that will be supported under the HGS this year will rise to 50,000.
Those who are not eligible for RFHBG may be eligible for the First Home Guarantee or Family Home Guarantee. Picture: NHFIC
CHECK YOUR ELIGIBILITY FOR FEDERAL HOUSING GRANTS
“Home buyers who are not eligible for the RFHBG may be eligible for the First Home Guarantee or the Family Home Guarantee. Home buyers should discuss their individual circumstances with a participating lender.”
NHFIC recommends potential applicants check their eligibility and areas they are able to purchase in off their website.
Regional areas are those parts of a state or the Northern Territory “that are not a capital city of that state or territory” as well as Norfolk Island, the Territories of Jervis Bay, Christmas Island or Cocos (Keeling) Islands.
People in the ACT and greater capital city areas of each state and the Northern Territory are excluded from the RFHBG.
