This proposal is to establish a First Home Loan Deposit Scheme (the Scheme) which would help eligible first home buyers by providing support if they do not have a 20 per cent deposit, consistent with the Coalition’s announcement – First Home Loan Deposit Scheme (PER062).

The Scheme would be capped at 10,000 recipients a year.

The Scheme would be run by the National Housing Finance and Investment Corporation.

The Commonwealth Government would make an equity investment of $500 million to the National Housing Finance and Investment Corporation and provide additional funding to establish and administer the Scheme.

Funding for research on housing demand, supply and affordability in Australia has been provided under the related commitment – National Housing Supply Council (PER413).

This proposal would have effect from 1 July 2019.