News and Events

From 1 October 2025, the Federal Government’s Home Guarantee Scheme will undergo its most significant expansion to date. The changes make it easier than ever for first home buyers to step into the property market with as little as a 5% deposit and no Lenders Mortgage Insurance (LMI).

With construction of the De Burgh apartments in Northbourne Village nearing completion and new residents set to move in by late Spring 2025, the timing couldn’t be better.

What’s Changing in the Home Guarantee Scheme?

The updates to the scheme, effective 1 October 2025, remove many of the barriers that have previously held back prospective buyers:

• Unlimited places: Any eligible first home buyer can access the scheme, without the risk of missing out.
• No income caps: Buyers at all income levels can now apply.
• Higher property price caps: Adjusted to reflect current market conditions with the new caps making more properties eligible.
• Only a 5% deposit needed: With the government acting as guarantor, buyers can avoid costly LMI, saving tens of thousands of dollars.

Why This Is Good News for First Home Buyers

Put simply, the door to home ownership has just opened much wider, particularly for prospective first home buyers considering one of the new range of De Burgh apartments in Northbourne Village.

With a mixture of studios, one-bedroom and two-bedroom apartments available, and a number of these priced under $1,000,000, the range of stock at De Burgh is ideally positioned for buyers looking to take advantage of the newly expanded scheme to acquire their first property.

First home buyers will welcome the new change as it provides opportunity to purchase a brand-new apartment in a central, master-planned community with a far lower upfront cost than ever before. First time buyers can now afford a new apartment in Canberra’s sought-after Inner North with just a 5% deposit thanks to the expanded Home Guarantee Scheme translating their long-term property dream into an immediate reality.

We uncover some reasons why these apartments are well suited to first home buyers in this article, including the local lifestyle, apartment features and more.

Security and Confidence for Buyers

One of the most valuable aspects of the expanded Home Guarantee Scheme is the certainty it provides. For first home buyers, this means a smoother path to finance approval and a more secure step into the market. With the majority of De Burgh apartments priced to fall within the new scheme’s limits, purchasers can feel confident they are making a decision that is financially sound, future-focused, and supported by policy designed to encourage long-term home ownership.

Understanding Your Eligibility

While the expanded Home Guarantee Scheme has removed many of the previous restrictions, buyers still need to meet some basic eligibility requirements to qualify.

Housing Australia has created an Eligibility Tool that allows buyers to check if they meet the criteria in just a few steps.

To give you an overview, applicants generally need to:

• Be an Australian citizen or permanent resident aged 18 or older,
• Intend to live in the property as their primary residence (the scheme cannot be used for investment properties alone),
• Meet the deposit requirement (minimum 5% of the property’s value, with the bank lending the remainder), and
• Ensure the property price falls under the new caps introduced from 1 October 2025 (for De Burgh apartments, most fall under the $1 million threshold).

Importantly, there are no longer income limits or annual place caps – making it more accessible than ever.

Key Benefits of Buying at De Burgh Under the New Scheme:

• Lower deposit required: Secure a home with just 5% down.
• No LMI: Avoid paying thousands in lender’s insurance.
• Strong eligibility: Most apartments are under $1 million, falling within the scheme’s new caps.
• Immediate opportunity: Construction is well advanced, with move-in ready apartments by late Spring 2025.

You can find further details of the changes and expected future impacts of the Homebuyer Scheme this article on the Housing Australia website.

Register Today To Be All Moved In By Spring 2025

Given the new changes to the Homebuyer scheme will expand the pool of potential buyers, demand is expected to surge, so we recommend that all buyers act now to secure their De Burgh apartment.

With construction on track for completion by late Spring 2025, now is the time to secure your place before demand surges. The combination of expanded government support, premium design, and unbeatable location makes De Burgh an opportunity you don’t want to miss.

We invite you to register your interest or book a display viewing to see what awaits future residents at the esteemed Northbourne Village before stock sells out!