The Albanese government is expanding its Help to Buy scheme allowing single parents and couples to buy homes with just a 2 per cent deposit.
The income thresholds have increased. Singles are now eligible for salaries of up to $100,000 and couples of up to $160,000.
Price caps for eligible homes will also rise significantly in major cities, including Sydney's cap, which will go up to $1.3 million.
The government will contribute 30-40 per cent of the home price, and repayments will be made when the home is sold.
The income thresholds have increased. Singles are now eligible for salaries of up to $100,000 and couples of up to $160,000.
Price caps for eligible homes will also rise significantly in major cities, including Sydney's cap, which will go up to $1.3 million.
The government will contribute 30-40 per cent of the home price, and repayments will be made when the home is sold.
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NewsTranscript
00:00The Albanese government is expanding its Help to Buy scheme,
00:02allowing single parents and couples to buy homes with just a 2% deposit.
00:08The income thresholds have increased.
00:10Singles are now eligible on salaries up to $100,000
00:13and couples up to $160,000.
00:16Price caps for eligible homes will also rise significantly
00:19in major cities, including Sydney's cap going up to $1.3 million.
00:24The government will contribute 30% to 40% of the home price
00:28and repayments will be made when the home is sold.