The proposal is to establish a First Home Loan Deposit Scheme (the Scheme) which will help eligible first home buyers by providing support if they do not have a 20 per cent deposit.

The costing request states that the Scheme will be capped at 10,000 recipients a year.

The Scheme will be run by the National Housing Finance and Investment Corporation (NHFIC).

The Australian Government will make an equity investment of $500 million to the NHFIC and provide an additional $25 million to establish and administer the Scheme and to conduct comprehensive research on housing demand, supply and affordability in Australia.