National

Property market

Opinion

Joshua Dabelstein Writer October 2, 2025 — 12.00pm

The Albanese government’s decision to universalise its 5 per cent deposit guarantee has been sold as a fix for a generation locked out of homeownership. The scheme alleviates first home buyers’ biggest hurdles: saving for a deposit and “tens of thousands of dollars” in mortgage insurance.

It sounds like a great idea, but for the fact that it’s not means tested. Anyone buying their first home – or being helped by the bank of Mum and Dad to buy their first home, regardless of their income or family wealth – can now access the guarantee.

According to Treasury figures cited by Prime Minister Anthony Albanese, a first home buyer purchasing a median-priced property worth $844,000 will need just $42

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