The new Regional First Home Buyer Guarantee will allocate up to 10,000 Guarantees each financial year to 30 June 2025 to regional first time buyers with a deposit of as little as 5 per cent.
Commonwealth Bank’s Executive General Manager Home Buying, Dr Michael Baumann, said: “Australia’s property landscape has evolved since the pandemic, with Australians reconsidering where they live and work. As cost of living pressures also increase, some Australians are faced with the prospect of having to delay their home ownership ambitions. This announcement will come as a welcome relief to those regional first home buyers who have wanted to get their foot on the property ladder, but haven’t previously been able to do so.”
Dr Baumann said under the Government’s entire Home Guarantee Scheme – which comprises the First Home Guarantee, the Family Home Guarantee and now the Regional First Home Buyer Guarantee – the Commonwealth Bank has helped thousands of Australians realise their property ownership ambitions sooner rather than later.