What is Labor’s Regional First Home Buyer Support Scheme?

By Maria Gil · · 2 min read
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a couple standing in front of their first home

With housing affordability on many Aussies’ minds, it’s no surprise that Labor has proposed several housing policies to combat skyrocketing property prices. 

One proposal is to aid regional first time home buyers by helping them avoid paying lenders mortgage insurance. 

Under the Regional First Home Buyer Support Scheme, the government will guarantee up to 15% of a property’s value to 10,000 eligible first home buyers per year.

Am I eligible for the Regional First Home Buyer Support Scheme?

To qualify for this housing scheme, you will need to:

  • Live outside a capital city.
  • Be an Australian citizen over 18.
  • Be a first time home buyer.
  • Live in the house bought.
  • Have an annual taxable income of up to $125,000 for singles or $200,000 for couples (married or de-facto).
  • Have been living in the region for at least 12 months.
  • Meet the property price threshold for the region under the current First Home Loan Deposit Scheme.

Are there any price caps?

woman on a couch checking on home loans

There is a price cap on the property you can buy under the scheme. However, the cap depends on which state or territory you live in and where within the states. The table below shows how much you might be eligible for.

Eligible RegionProperty Price Cap
NSW – Illawarra, Central Coast & Newcastle$900,000
NSW - Other$750,000
VIC - Geelong$800,000
VIC - Other$650,000
QLD - Gold and Sunshine Coast$700,000
QLD - Other$550,000
WA$450,000
TAS$450,000
SA$450,000
NT$600,000

Other Labor housing proposals

As part of the election campaign, Labor proposed several housing plans to help with the affordability issue. We’ve highlighted some below:

The Help to Buy Scheme

Potentially the ALP’s most ambitious proposal, the Help to Buy scheme is a shared equity program in which the government will make an equity contribution of up to 40% on the price of a new home and up to 30% on the cost of existing homes. 

According to the ALP, the arrangement will reduce the deposit size needed by homebuyers and their ongoing mortgage repayments.

National Housing Supply and Affordability Council

The new government wants to set up a council to tackle the housing supply issue in Australia. It will be advised by experts from a range of fields and will report on issues such as land use, housing supply and demand, construction of affordable housing, and rental affordability.

Housing Australia Future Fund

The Labor government aims to establish a $10 billion fund to help build 30,000 new social and affordable housing properties and support 21,500 full-time jobs over five years.

If you’re a first time home buyer looking to buy your first house, be sure to check out our first time buyer guides for tips. Alternatively, if you’re ready to buy, use our home loan comparison table below.

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Last updated 1 October 2025 Important disclosures and comparison rate warning*
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Loan purpose
Buying or Refinancing
  • Promoted

    Unloan Variable Home Loan

    • Owner occupier
    • Principal & Interest
    • 20% min deposit
    • Redraw available
    Interest rate
    5.24 % p.a.
    Variable
    Comparison rate
    5.15 % p.a.
    Initial monthly repayment
    $2,758
    Go to site
    • The first home loan with an automatic loyalty discount (conditions apply)
    • No application or banking fees
    • Built by CommBank

  • Fixed Rate Home Loan

    • Fixed rate
    • Owner occupier
    • Principal & Interest
    • 5% min deposit
    Interest rate
    4.65 % p.a.
    Fixed 1 year
    Comparison rate
    5.43 % p.a.
    Initial monthly repayment
    $2,578
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    • No ongoing annual fees
    • Make up to $25,000 extra repayments during a fixed period, fee free (T&Cs apply)
    • Lock in for up to 5 years.

  • Fixed Rate Home Loan

    • Fixed rate
    • Owner occupier
    • Principal & Interest
    • Interest only
    • 20% min deposit
    Interest rate
    4.65 % p.a.
    Fixed 1 year
    Comparison rate
    5.48 % p.a.
    Initial monthly repayment
    $2,578
    Go to site
    • Free extra repayments of up to $25,000 during the fixed rate period.
    • Split loan available
    • Weekly, fortnightly, or monthly repayment options

  • Optimum Fixed Rate Home Loan

    • Fixed rate
    • Owner occupier
    • Principal & Interest
    • 20% min deposit
    • Redraw available
    Interest rate
    4.69 % p.a.
    Fixed 1 year
    Comparison rate
    5.73 % p.a.
    Initial monthly repayment
    $2,590
    Go to site
    • No application, establishment or monthly fees
    • Make extra repayments up to $20,000 per year
    • Free redraw facility to access additional funds

  • 2-Year Fixed Simple Home Loan Special

    • Fixed rate
    • Owner occupier
    • Principal & Interest
    • 40% min deposit
    • Refinance only
    • Redraw available
    Interest rate
    4.70 % p.a.
    Fixed 2 years
    Comparison rate
    5.14 % p.a.
    Initial monthly repayment
    $2,593
    Go to site
    • No application, ongoing or monthly fees
    • Make unlimited extra repayments and access funds with free redraw
    • Get up to $1,000 towards legal and valuation costs (T&Cs apply)

  • 2-Year Fixed Complete Home Loan Special

    • Fixed rate
    • Owner occupier
    • Principal & Interest
    • 40% min deposit
    • Refinance only
    • Offset available
    • Redraw available
    Interest rate
    4.70 % p.a.
    Fixed 2 years
    Comparison rate
    5.62 % p.a.
    Initial monthly repayment
    $2,593
    Go to site
    • Offset account can help you save on interest
    • Make unlimited extra repayments and access funds with free redraw
    • Get up to $1,000 towards legal and valuation costs (T&Cs apply)

  • First Home Buyer Loan

    • Owner occupier
    • Principal & Interest
    • 5% min deposit
    • For first home buyers
    • Offset available
    • Redraw available
    Interest rate
    4.99 % p.a.
    Variable
    Comparison rate
    5.04 % p.a.
    Initial monthly repayment
    $2,681
    Go to site
    • Competitive interest rate – 4.99% p.a. (comparison rate* 5.04% p.a.)
    • Offset account to reduce interest and save on repayments
    • No establishment or monthly fees, plus valuation fees waived up to $1,000 (limited time)

  • 1-Year Fixed Simple Home Loan Special

    • Fixed rate
    • Owner occupier
    • Principal & Interest
    • 40% min deposit
    • Refinance only
    • Redraw available
    Interest rate
    4.99 % p.a.
    Fixed 1 year
    Comparison rate
    5.22 % p.a.
    Initial monthly repayment
    $2,681
    Go to site
    • No application, ongoing or monthly fees
    • Make unlimited extra repayments and access funds with free redraw
    • Get up to $1,000 towards legal and valuation costs (T&Cs apply)

  • Fixed Home Loan

    • Fixed rate
    • Owner occupier
    • Principal & Interest
    • 5% min deposit
    • Redraw available
    • Cashback
    Interest rate
    4.99 % p.a.
    Fixed 2 years
    Comparison rate
    5.47 % p.a.
    Initial monthly repayment
    $2,681
    Go to site
    • Get up to $4,000 cashback (T&Cs apply)
    • Up to 12 months repayments in advance without penalties
    • Split loan available

  • 1-Year Fixed Complete Home Loan Special

    • Fixed rate
    • Owner occupier
    • Principal & Interest
    • 40% min deposit
    • Refinance only
    • Offset available
    • Redraw available
    Interest rate
    4.99 % p.a.
    Fixed 1 year
    Comparison rate
    5.71 % p.a.
    Initial monthly repayment
    $2,681
    Go to site
    • Offset account can help you save on interest
    • Make unlimited extra repayments and access funds with free redraw
    • Get up to $1,000 towards legal and valuation costs (T&Cs apply)

  • Deluxe "Special" Owner Occupied Variable Home Loan Rate - 12 Month Discount

    • Owner occupier
    • Principal & Interest
    • 20% min deposit
    • Offset available
    • Redraw available
    Interest rate
    5.10 % p.a.
    Variable for 12 months and then 5.85% p.a.
    Comparison rate
    5.77 % p.a.
    Initial monthly repayment
    $2,715
    Go to site
    • Get a discount on your interest rate for the first 12 months
    • No application or ongoing fees
    • Offset account included

  • Special Budget Home Loan

    • Owner occupier
    • Principal & Interest
    • 20% min deposit
    • Redraw available
    Interest rate
    5.19 % p.a.
    Variable
    Comparison rate
    5.19 % p.a.
    Initial monthly repayment
    $2,742
    Go to site
    • No application or monthly fees
    • Free redraw facility
    • Flexible loan terms, options up to 30 years

  • Discount Great Rate Home Loan

    • Owner occupier
    • Principal & Interest
    • 20% min deposit
    • Redraw available
    • Cashback
    Interest rate
    5.19 % p.a.
    Variable
    Comparison rate
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    Initial monthly repayment
    $2,742
    Go to site
    • Get up to $3,000 cashback when you apply online (T&Cs apply)
    • No paperwork or payslips required (see site for details)
    • Low variable rate

  • Unloan Variable Home Loan

    • Owner occupier
    • Principal & Interest
    • 20% min deposit
    • Redraw available
    Interest rate
    5.24 % p.a.
    Variable
    Comparison rate
    5.15 % p.a.
    Initial monthly repayment
    $2,758
    Go to site
    • The first home loan with an automatic loyalty discount (conditions apply)
    • No application or banking fees
    • Built by CommBank

  • Simple Home Loan Variable

    • Owner occupier
    • Principal & Interest
    • 40% min deposit
    • Redraw available
    Interest rate
    5.24 % p.a.
    Variable
    Comparison rate
    5.24 % p.a.
    Initial monthly repayment
    $2,758
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    • A low variable rate that allows you to benefit from potential future rate cuts
    • No application, ongoing, or monthly fees
    • Make unlimited extra repayments and access funds via a free redraw facility

  • OMG Home Loan

    • Owner occupier
    • Principal & Interest
    • 40% min deposit
    • Redraw available
    Interest rate
    5.24 % p.a.
    Variable
    Comparison rate
    5.27 % p.a.
    Initial monthly repayment
    $2,758
    Go to site
    • No ongoing annual fees
    • Pre-approval valid for 3 months

  • Budget Home Loan

    • Owner occupier
    • Principal & Interest
    • 20% min deposit
    • Redraw available
    • Cashback
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    5.29 % p.a.
    Variable
    Comparison rate
    5.32 % p.a.
    Initial monthly repayment
    $2,773
    Go to site
    • Get up to $4,000 cashback (T&Cs apply)
    • Split loan available

  • Variable Home Loan 90

    • Owner occupier
    • Principal & Interest
    • 10% min deposit
    • Offset available
    • Redraw available
    Interest rate
    5.29 % p.a.
    Variable
    Comparison rate
    5.33 % p.a.
    Initial monthly repayment
    $2,773
    Go to site
    • No monthly or ongoing fees
    • Option to add an offset for 0.10% p.a.

  • Basic Variable Home Loan

    • Owner occupier
    • Principal & Interest
    • 40% min deposit
    • Redraw available
    Interest rate
    5.38 % p.a.
    Variable
    Comparison rate
    5.41 % p.a.
    Initial monthly repayment
    $2,801
    Go to site
    • No ongoing monthly loan maintenance fees
    • Weekly, fortnightly, or monthly repayment options

  • Offset Home Loan

    • Owner occupier
    • Principal & Interest
    • 40% min deposit
    • Offset available
    • Redraw available
    Interest rate
    5.39 % p.a.
    Variable
    Comparison rate
    5.42 % p.a.
    Initial monthly repayment
    $2,805
    Go to site
    • No ongoing monthly loan maintenance fees to pay.
    • Pre-approval valid for 3 months
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* WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.

** Initial monthly repayment figures are estimates only, based on the advertised rate. You can change the loan amount and term in the input boxes at the top of this table. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.

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