First home buyers will have more choice thanks to expanded government scheme but some markets are likely to be pushed out of reach again, analysis has found.

The federal government is fast tracking an expansion to its Home Guarantee Scheme which allows those eligible to buy with a five per cent deposit and no lenders mortgage insurance.

Come October, the scheme will also remove income and place limits and raise property price caps across most regions.

Of the 4848 house and unit markets analysed by property data company Cotality, only about a third were accessible under the old scheme's price caps.

This will expand to almost two thirds with the updated scheme, including 51 per cent of house markets and 93 per cent of unit markets.

Under the higher price caps, houses in 130 Adelaide sub

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