Labor’s Win - What does it mean for First Home Buyers?

Written By Sally Chen

Labor’s recent election victory brings promising changes for first-home buyers in Australia. Below is a summary of Labour’s key election commitments. Keep in mind the below is still subject to government approval and likely to come into effect in 2026.

First Home Guarantee Expansion: Purchase with just a 5% deposit and no Lenders Mortgage Insurance. Income caps removed, and purchase price caps increased.

100,000 New Homes: A $10 billion investment to build homes exclusively for first-home buyers, reducing competition with investors.

Help to Buy Scheme: Buyers can enter the market with as little as a 2% deposit, with the government co-owning up to 40% of the property. Income caps raised to $100k for singles and $160k for couples.

If you’re a First Home Buyer, it’s time to start planning now to get ahead of the 2026 changes. Talk to one of our mortgage brokers to strategise your next best step.

Sally Chen
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