New data from the Commonwealth Bank has revealed customers have bought property, on average, 4.78 years faster using the First Home Loan Deposit Scheme (FHLDS) or New Home Guarantee (NHG). 

This finding comes as CBA prepares to open its waitlist on Thursday, 1 July to new customers looking to apply for the existing FHLDS or NHG or the new Family Home Guarantee, which allows single parents with dependent children to purchase or build a property with a deposit of as little as 2 per cent.   

Michael Baumann, Executive General Manager of Home Buying at CBA said: “We know that saving for a deposit is one of the biggest challenges facing first homebuyers and those re-entering the property market. Our data shows CBA customers who have used one of these home buyer initiatives have been able to enter the property market nearly five years earlier on average than they would if they saved for the standard 20 per cent deposit.

“We’ve helped over 6,400 customers purchase their first home sooner and we’re excited that we can continue to support customers under these government schemes. Today’s new spots are in addition to our leading features for home loan customers, including our Home Loan Compassionate Care, award winning app and competitive pricing.”  

State breakdown of average time saved by CBA customers using the FHLDS/NHG 


Average time saved (years)*   

















*Average of borrowers saved time in each state, when comparing time taken to save a 5% deposit vs time taken to save a 20% deposit, using estimated post tax income and actual property purchase price across FHLDS and NHG customers.  

 According to the data, CommBank FHLDS/NHG customers based in NSW and Victoria had their deposit saving time shortened the most given that the average property price is higher in those markets. However, the time saved by borrowers in other states and territories wasn’t too far behind.    

 Mr Baumann said the government grants and schemes hadn’t just helped home buyers enter the market faster, they had also helped customers purchase different types of properties in both metropolitan and regional areas.  

 “Speaking to our lenders and brokers we know the schemes have been a great success for a wide range of different customers – both singles and couples – looking to realise their home ownership goals across the country. We’ve helped customers buy everything from a duplex in Padstow, to a townhouse in Umina Beach, an apartment in Coogee, and a newly built home in Box Hill,” Mr Baumann said.   

 To ensure customers can continue to realise their home ownership goals, the Government recently announced new property price caps for the FHLDS as well as the Family Home Guarantee, which will apply to all new reservations from 1 July. Visit for more information.   

 Eligible customers are encouraged to apply for the new Family Home Guarantee, the FHLDS and NHG via their CommBank lender or broker from 1 July 2021.