The Government has announced its Federal Budget, delivering some of the biggest changes to Australia's housing market in years. If you're thinking about buying your first home, there's a lot to be positive about.

You can still buy with just a 5% deposit

The Government's Home Guarantee Scheme continues, meaning eligible first home buyers can enter the market with as little as a 5% deposit – without paying Lenders Mortgage Insurance (LMI).

More homes are expected to shift from investors to buyers like you

The Government has wound back negative gearing and capital gains tax (CGT) concessions for investors in existing properties. The Treasury forecasts this will help tens of thousands of Australians buy their first home over the coming decade – freeing up more established homes for owner-occupiers rather than investors.

To help ease demand pressures, the Government is also extending the restriction on non-Australian investors purchasing existing homes, with the intention of creating more opportunities for young Australians to enter the housing market.

If you'd like to understand exactly how this Budget affects your buying position, I'd love to help. Please reach out to discuss your goals and next steps.