It was announced over the weekend by Prime Minister Scott Morrison that a new scheme will allow for first home buyers with only a 5 per cent deposit to have access to a home loan. If elected into power on the weekend, the Liberal party will commence the new scheme starting on January 1st, 2020.

Are you Eligible If you are a single earning up to $125,000 or a couple with combined earnings of $200,00, you will be eligible for the new First Home Buyers scheme.  One of the biggest hurdles when borrowing more than 80 per cent of the property value is that you will be hit with Mortgage Lenders Insurance fee that can cost a buyer thousands of dollars.

Downsizing isn’t just about selling up and buying a smaller property. If you make the right choices, you can achieve good returns on your investment, and find a wonderful place to call home.

Here’s what you need to know.

The Australian Bureau of Statistics revised key data recently, which indicated the volume of first homebuyers was actually lower than first reported. This is on the back of findings by the ABS, stating that first homebuyers were at record lows.

So what does this mean for first homebuyers still looking to get into the market? Our latest blog explores how this news from the ABS could just work for you, as well as further insights into first homebuyer analytics.